A couple of weeks ago Rabobank issued a forecast that global food prices would hit new record-highs later this year and carry into 2013…but noted the situation is different than what it was back in 2008 when it was a shortage of wheat and rice which caused trade restrictions and panic buying by food-deficit countries. This time there is a shortage of corn and soybeans which are mainly used as animal feed so the situation should not be as bad. Luke Chandler with Rabobank says there are some other variables which could come into play here such as the European and Chinese economies.
A number of variables for world food prices
October 4, 2012 By Leave a Comment