World Food Price Index Holds Steady At Historic Highs (CHART 1990-2011)

Global food prices hold steady

5 May 2011, Rome - Food prices remained virtually steady in April after falling in March following eight months of successive increases, FAO announced today.

However, while the FAO Food Price Index averaged 232 points in April, little changed from March, it was still 36 percent above April 2010 and only two percent below its peak in February 2011.

A fall in sugar prices and a decline in rice helped stabilize the index, but international prices of nearly all other food commodities remained firm.

"A sliding dollar and increased oil prices are contributing to high food commodity prices, particularly grains," said David Hallam Director of FAO's Trade and Market Division. "With demand continuing strong, prospects for a return to more normal prices hinge largely on how much production will increase in 2011 and how much grain reserves are replenished in the new season."

Comments

[S. Gompers]

Don't hold your breath waiting for them to go down. Fuel is still high, the dollar is still falling, drought in Texas, flooding in the middle of the country, and to wet to plant where I am at. If it does not dry up in the next couple of weeks there will be no crops. Parts that are flooded could be done for the year.

Weatherman is calling for 4 more days of rain tomorrow night, we need two weeks to dry out now. There isn't any corn in the ground around here, usually it is up by now. We had the wettest April in our history.

Soylent green anyone...

[Josie]

The world economic "superpower" is $15tril in debt. Its fiat currency is the world's currency. World population has exponentially blown up over the last ~100 years and continues to boom, and all people need to eat. We may be beyond peak oil--as oil goes, so goes mankind...Lookin' good Lewis. Feelin' good Billy Ray...

Time to learn to garden veggies and fruits...

[S. Gompers]

Amen Josie, meanwhile the government is still paying farmers not to farm, and increasing the competition between food and fuel.

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