Peanut butter prices on the rise
Americans are shelling out more and more for one of their favourite products.
Americans are shelling out more and more for one of their favourite products.
The New Zealand Food Price Index continues to run at record high levels in spite of a slight decline during the month of August.
A new report launched in London has suggested that New Zealand’s economy could be an early casualty of an impending food market crash prompted by irresponsible speculation in food prices.
Statistics New Zealand’s latest food price index is up 7.6 percent for the June year, thanks mostly to a staggering 23.5 percent increase in vegetable prices in the last 12 months, and a 9.4 percent increase in the price of fresh milk.
Consumers in the United Kingdom believe that the days of cheap food are over and that they will have to pay more for grocery essentials in the future.
Food prices were flat (up 0.1 percent) in the April 2011 month, but up 6.1 percent on a year earlier, Statistics New Zealand said today.
An ever-increasing problem is emerging in many countries, including New Zealand. It’s food insecurity – the lack of access to safe, nutritious, affordable food, which has a serious impact on the physical and mental health of those affected.
In an online briefing of world media this week, the FAO has said the record high food prices being experienced around the globe are likely to continue throughout 2011. Prices have been at record highs for the first two months of the year, and according to FAO there is more chance of them increasing than of a decline in coming months.
The United Nations food price index hit a new record in February for the second time in a month. The index had already broken new ground in January when it surpassed the prices reached in 2008.
The World Bank says food prices are at “dangerous levels”, after its latest Food Price Watch showed prices rose by 15% in the four months to January.
World Bank president Robert Zoellick has echoed the concerns expressed recently by the United Nations Food and Agriculture Organisation (FAO) that high food prices threaten global stability. Yesterday he told media that food prices have hit “dangerous levels” when releasing a World Bank report that shows global food prices are up 29% in the past 12 months.
New research shows that the biggest concern amongst food buyers in the West is price.