Report: food costs rising world-wide

“What’s rare is that the spikes are hitting all major foods in most countries at once”., the AP has reported today.

The story says that “In the long term, prices are expected to stabilize. Farmers will grow more grain for both fuel and food and eventually bring prices down. Already this is happening with wheat, with more crops to be planted in the U.S., Canada and Europe in the coming year. However, consumers still face at least 10 years of more expensive food, according to preliminary FAO projections. Among the driving forces are petroleum prices, which increase the cost of everything from fertilizers to transport to food processing. Rising demand for meat and dairy in rapidly developing countries such as China and India is sending up the cost of grain, used for cattle feed, as is the demand for raw materials to make biofuels”. This AP report can be read in full here .

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