Food and Agriculture Organization FAO of the UN:
The report, According to the Financial Times, the FAO of the United Nation has information that world food prices are now elevated and higher than their level during the ‘food price crisis’ of 2008. the report and in the chart shows that the food prices have doubled in these years. But the last point was noticeable by insurrection in some 30 countries, worldwide emergency meetings, new initiatives etc. our question is that why there is quietness from the official and this time around? Some feasible explanation and clarification.
Domestic costs aren’t as badly and deficiently affected. Some of the spike is because of a weak US currency. One of the reasons is that, The FAO site’s national data are not updated, so hard to check this; everyone acquired independent self-determining sources of information?
Consumers have been accustomed to higher prices for the daily commodities, so in recent they aren’t reacting as violently this time around but in some place there is a report of some demonstration especially in Pakistan.
The prices have been mainly increased in daily and basic commodities such as sugar, meat and oil seeds, not the more politically volatile cereals accountable and responsible for most of the riots last time, wheat prices are rising fast, but have not yet reached their 2008 levels, while rice is relatively somewhat stable. Most donors are effectively cutting or freezing their aid budgets so any civil servant suggesting a latest proposal may not obtain much of a hearing.
For these reasons, the Guardian quotes Julian Jessop, chief international economist at Capital Economics, as stated that “the surge in agricultural food prices is largely a outcome of supply shocks, for example droughts in major wheat producing countries. These have been compounded by speculative pressures.
My Personal Quotes:(Human Being spends more on destruction than welfare work: THINK)!