Just twelve crops and fourteen animal species now provide most of the world’s food; and a lack of diversity means fewer opportunities for the growth and innovation needed to boost agriculture at a time of soaring food prices. This is the growing concern of the UN Food and Agriculture Organisation (FAO). “Our planet abounds with biological richness and this great diversity is key to face the worst food crisis in modern history,” UN FAO Assistant Director, General Alexander Müller,... ...Read more »
The price of rice, a staple food commodity, is set to remain at or near record highs for the remainder of the year, but optimism about a fall next year is growing. The news, from the UN Food and Agriculture Organization (FAO), is welcome as fear of a food shortage grips the world, leading to panic buying and protests in some countries. It also is great news for food retailers who are currently being stung by the rapid rise in food price inflation (particularly for wheat, corn, rice and dairy products). Rice... ...Read more »
Concern over how quickly current world supplies are being drawn down has given commodity speculators all the ammunition they need to drive the price of rice through the roof. The price of rice from Thailand has nearly tripled since the beginning of the year and stands at record highs. Rice prices on the Chicago Board of Trade are up about 80 percent this year. While U.S. government and trade group officials have maintained that there is no shortage on the horizon, buyers have been streaming... ...Read more »
The price of rice is expected to continue rising beyond current record highs due to an inability for supply to meet demand. The price of rice has appreciated markedly since the beginning of the year, with rice prices almost doubling in this time. Global stocks are at there lowest level since 1976 and, with demand expected to outstrip supply by over 3 million tonnes this year, the price is only likely to rise further. Australia’s rice industry is unlikely to be able to take advantage of the... ...Read more »