World's grocery bill is going to go up, up, up
By Catholic Online (NEWS CONSORTIUM)
5/30/2014 (3 years ago)
Catholic Online (www.catholic.org)
Rising food demand in China, drought in the United States and unrest in Ukraine are fueling increases in world food prices. It's the first such rate increase since the all-time high of August 2012, according to officials with the World Food Bank.
The troubled nation of Ukraine, the breadbasket of Eastern Europe, posted the largest domestic price increases for wheat and maize.
LOS ANGELES, CA (Catholic Online) - According to the World Bank, internationally traded food prices increased by a sharp 4.0 percent, led by wheat and maize, up 18 percent and 12 percent, respectively.
International food prices in April as a result were only 2.0 percent lower than a year ago and 16 percent below their record level in August 2012.
Starvation never takes a vacation --
"Increasing weather concerns and import demand -- and, arguably, to a lesser extent, uncertainty associated with the Ukraine situation -- explain most of the price increases," the report said.
Prices increased in spite of bumper crops in 2013 and continued projections of record grain harvests and stronger stocks expected for 2014.
Dry conditions in the United States, particular in the Golden State of California coupled with strong global demand, particularly from China, partly explained the price rises.
The troubled nation of Ukraine, the breadbasket of Eastern Europe, played a part, posting the largest domestic price increases for wheat and maize. The world's sixth-largest wheat exporter saw domestic wheat prices jump by 37 percent, driven in part by currency depreciation.
Overall, international wheat prices soared by 18 percent quarter-over-quarter.
"Such a steep price increase had not occurred since the months leading to the historical peak in the summer of 2012," the report said.
Maize prices rose by 12 percent, with Ukraine, the third-largest exporter of maize, experienced a 73 percent rise in domestic prices because of delayed plantings and increasing costs.
"Geopolitical tensions in Ukraine have not disrupted exports so far, but might have effects on future production and trade if uncertainty increases," the report said.
Other countries in the grip of political and economic stresses also saw prices shoot higher. In Argentina, for example, wheat prices were up 70 percent from a year ago.
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for OCTOBER 2017
Workers and the Unemployed. That all workers may receive respect and protection of their rights, and that the unemployed may receive the opportunity to contribute to the common good.
Pope Francis has issued a stinging rebuke against those who deny that human-caused global warming is real. He called the notion a "perverse ... continue reading
More than 1,500 scientists have issued a warning to humanity, stating that our activities, and life as we know it are on a collision ... continue reading
Scientists discover the Egyptians also recorded the day the sun stood still, and now we know when it happened Watch
Scientists have discovered the exact date when the sun stood still in the book of Joshua. The discovery was made using an Egyptian source ... continue reading
Two volcanoes are about to erupt almost simultaneously, spewing massive quantities of ash and soot into the air. Scientists have warned ... continue reading
A 7.1 quake has rocked Mexico City. Buildings swayed and people dove for cover, but there are now some reports of damage.At least 42 people ... continue reading
by Catholic Online
- Daily Reading for Monday, November 20th, 2017 HD Video
- Do you know what the Church really says about Nuclear War?
- 'DEFEND the Pope!'
- Daily Reading for Tuesday, November 21st, 2017 HD Video
- The Remarkable Story of an Underground Priest Living in China
- Daily Readings for Monday, November 20, 2017
- St. Edmund Rich: Saint of the Day for Monday, November 20, 2017
- Catholics are sharing Christ's compassion. HD
- Daily Reading for Sunday, November 19th, 2017 HD
- Did Pope Francis blast 'perverse attitude' of climate change deniers? HD
- Scientists warn: The end of life as we know it is near HD
Daily Reading for Monday November 20, 2017
Learn about Catholic world
Inform - Inspire - Ignite
Catholic Online Saints
Your saints explained
Catholic Online Prayers
Prayers for every need
Catholic Online Bible
Complete bible online
Catholic Online News
Your news Catholic eye
Today's bible reading
Products and services we offer
Catholic Online Shopping
Catholic medals, gifts & books
The California Network
Inspiring streaming service
Learn the Catholic way