Last Updated :
03 November 2009 at 15:10 IST
Global wheat prices may double in three decades
LONDON (Commodity Online): Volatility in wheat prices is higher than other staple foods because most of the people across the world consume wheat as a staple food. Hence, the protectionism on the crop would create a narrow market apart from some disease while on production.
Global wheat prices are expected to surge significantly within three decade, with an increase of 20% in the coming decade, Joachim von Braun, Director General of the International Food Policy Research Institute, was quoted by Dow Jones Newswires.
He said on the sidelines of a Food Security conference in London that the probability of food prices hike in the next four years is very high due to the protectionism and increasing volatility.
Trading platform that even a 5 year old can trade. Join nowPoor people would not be able to afford staple foods at higher prices, he said. Von Braun expressed concern of food availability will become a major problem again following food price spikes in 2007-08.
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