Food Prices Are Surging Around The World And Reserves Have Sunk To A 4-Year Low


Photo: Youtube

Drought conditions in Russia and the U.S. caused worldwide food prices to jump 6 per cent in July, according to the United Nations. Maize prices increased by nearly 23 per cent, while wheat costs increased 19 per cent.

Sugar prices increased 12 per cent for the opposite reason, as heavy rains in Brazil washed out large portions of crop.

Meat prices were held at bay by softening demand, declining 3 per cent.

Separately, Bloomberg reported combined inventories of corn, wheat, soybeans and rice will drop 1.8 per cent to a four-year low before harvests in 2013.

Here are the U.N.’s charts:


Photo: UN


Photo: UN

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at