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Rise in global prices give food for thought

By David Elliott

Published 08/06/2011

On the subject of food, there doesn't look to be much let up to your weekly shopping bill, no matter where you source it from.

The United Nations Food and Agriculture Organisation said yesterday that world food prices will remain high and volatile for the rest of the year despite the fact that products have been ramped up.

That's bad enough news for consumers here but for poorer countries it's a different matter altogether.

They're expected to see food import costs rise 30% and will be spending 18% of their total import bills on food compared to the world average of 7%.

That certainly puts things into perspective. While we might moan about the price of a loaf of bread, at least it still represents only a fraction of our weekly wage.

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