Global alarm over a potential repeat of the 2008 food crisis escalated after data showed food prices had jumped 6 percent last month and importers were snapping up a shriveled U.S. grain crop, helping drive corn prices to a new record.
Ahead of a critical government report on Friday on the state of the U.S. corn and soybean crops, which have been decimated by the worst drought in over five [...]
World farm production must rise 60 percent by 2050 to meet the needs of a growing population but this has to happen in “a more sustainable way,” the UN food agency FAO and the OECD said on Wednesday.
“It’s mostly going to be about productivity,” Angel Gurria, head of the Organisation for Economic Cooperation and Development (OECD), said at a press conference in Rome, explaining that farmland area would increase only [...]
(Reuters) – The price of British farms will rise higher than any other class of real estate in Europe over the next four years driven by investors buying farmland to capitalize on growth in global demand for food and also to shield wealth and pay less tax.
Farmland values will rise 37 percent by 2016, beating forecast growth for gold, oil, ten-year British government bonds and homes in London’s most exclusive [...]
MILAN (Reuters) – African swine fever (ASF), a viral disease harmless to people but lethal to pigs, is likely to spread beyond Russia and the Caucasus region into Europe, the United Nations’ food agency said on Thursday.
ASF, for which there is no vaccine, is now established in Georgia, Armenia and southern Russia, with an increasing number of long-distance jump outbreaks in northern areas this year, [...]
Global food prices measured by the U.N.’s food agency may have come off record highs in March after falls in grain prices, but supply concerns and soaring oil prices mean such a move could just be a pause before new peaks.
The United Nations’ Food and Agriculture Organization (FAO) on Thursday publishes its monthly Food Price Index, which measures price changes for a basket of [...]
1) U.S. Postal Service expects cash shortage in ’11
“The U.S. Postal Service will be unable to pay two major bills later this year unless Congress changes the law to eliminate Saturday mail deliveries, the postmaster general, Patrick R. Donahoe, told the House Postal Oversight Committee on Wednesday. Media reports say that as of Sept. 30, the end of the current fiscal year, the Postal Service [...]
1) Kellogg says it will raise prices (3%)
“John Bryant, the company’s new chief executive officer, said Kellogg would raise prices due to the rising cost of commodities.
“The price increases are merely passing on a portion of those higher costs,” he said.”
2) Record U.S.meat prices to make dining tables leaner:Reuters poll
“(Reuters) – U.S. cattle and hog futures are expected to hit record highs this year, a Reuters Polls showed, [...]
1) Jobless benefits cost so far: $319 billion
“NEW YORK (CNNMoney.com) — Unemployed Americans have collected $319 billion in jobless benefits over the past three years due to the federal government’s unprecedented response to the Great Recession, according to a CNNMoney analysis of federal records.
The cost of such benefits will be central to the heated debate in Congress in coming weeks over whether to extend this [...]