In wheat and maize prices are rising against the backdrop of soaring rice prices are likely to lead to food crisis.
Last week, the Chinese food market, oil prices uploaded to the message. Consumers rush to buy cooking oil, it was found the supermarket, not just oil prices, including rice, bread, fruit, vegetables, eggs, and so almost all basic food prices are rising.
In fact, the Chinese market is only a microcosm of the global market since July of this year, the international market, wheat, corn, cotton, soybeans and other agricultural products to the chain for three consecutive months of double digit rate increases. Compared with six months ago, global wheat prices rose 57 and rice rose 45 , 55 higher sugar, soybean rose to a high of 16 months. At the same time, domestic food prices are steadily rising, the South China food procurement price index starting from May 5 consecutive months, the chain increased. A direct result of bulk agricultural prices the price of downstream industries, pastries, chocolates, instant noodles and other price increases have to follow suit. Domestic consumer price (CPI) 9 rose 3.6 yoy, the biggest increase since the new 23 month high. Experts predict that the World Bank, meat, sugar, rice, wheat and other major food price volatility will last 5 years, prices will reach the highest point within the next two years.
Basic food price hikes mean? FAO senior economist Abba Louisiana recently said, In recent weeks, we found that some lead to global food crisis in 2008, the same symptoms. Inferred that the World Bank experts, and now can foresee the global food crisis.
Into the fourth quarter of 2010, the global food crisis looming Phantom of the Opera, for which Kenya, Uganda, Nigeria, Indonesia, Brazil and the Philippines, many governments have issued a warning note that food shortages may occur next year. Food crisis may really want to come, just like last time the crisis will be serious? In this regard, Abba Louisiana that food prices might not be as high as 2008, but this time will last longer. Combination of all analysis of the factors pushing up food prices, there are three main aspects. And the production of food crisis as before, the weather is still important factors led to a crisis. The recent Typhoon Megi hit the Philippines rice producing areas, rice production fell a foregone conclusion. Meteorological departments will also appear next year extreme weather worldwide, the future of food production decline will be the higher of the strong support.
In addition, speculation has fueled price increases for agricultural products. The London based World Development Movement, warned that hedge funds and speculative investment banks are likely to drive food prices rise further, liquidity will enable the high and volatile prices of agricultural products. View from the Chinese domestic market is also affected by fluctuations in farm prices & #58756; liquidity factors & #58756; large proportion of the recent green beans, garlic, ginger and other agricultural products have been selected hot money speculation, speculative promote domestic agricultural food prices have been volatile.
Look deeper level, environmental degradation, price fluctuations will continue to longer periods of time. Commissioner of the United Nations right to food, Olivier De Schutter that accompanied industrialization and environmental degradation arising from factors such as bio fuels is causing global food price rise major culprit. Data show that annual global loss due to severe environmental degradation from five million to 10 million hectares cultivated land due to industrialization and urbanization loss of 19.5 million hectares of arable land. Decreasing arable land and growing population is accelerating deterioration of the global food situation. World Trade Organization Director General Pascal Lamy at the end of 10 the Thirteenth Summit of the Organization of la Francophonie summit to remind the national attention on the occurrence of the risk of a global food crisis. Concerns out of the grain market, which closed on October 17th APEC (APEC) ministerial meeting for the first time also to food security, food security as a focus of attention.
In the years 2007 2008 during the food crisis, the bulk of agricultural products is the final price of rice soaring species. When the crisis from 2008 highs, this year s wheat and corn prices have been a strong rebound, still seems to calm rice market. If the judge, according to past experience, once the follow up rice prices, then come before the food crisis on the real. But some traders are very optimistic about the grain market, they think the price of rice would remain stable next year, and large scale high yield stocks to curb rising prices. U.S. Department of Agriculture predicts that by 2010 2011, the global rice production will reach a record level of 452.5 million tons, representing an increase of nearly 2009 2010 2 , yield slightly higher than expected demand. However, as the typhoon hit the Philippines, rice, Indonesia plagued by volcanic eruptions, but bad weather has affected the main producing areas of China and its rice market prospects vulnerable. In the Chicago futures market, U.S. rice prices have risen 14 dollars per kilogram, compared with July up nearly 50 . Association of Thai rice prices are expected to rise 10 next year. In wheat and maize prices are rising against the backdrop of soaring rice prices are likely to lead to food crisis. Rice will be the last straw that it?
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