The price of agricultural commodities traded on the global stage has shot up by 50 per cent since the middle of 2020, according to economists at Rabobank.Global food prices have hit a six-year highDownload the ABC News app for all the latest.
Its findings are echoed by the United Nations' Food and Agriculture Organisation's Food Price Index which tracks monthly price changes for a basket of common staple foods. Rabobank senior commodity analyst Charles Clack said the higher prices will be around for some time to come. "In addition, we don't expect the speculators who've been a driver of these commodity price rises to disappear either."last summer and will reap the benefit of having a large crop to sell while prices are high.Analysis by Australian government commodity forecaster ABARES found local food prices had risen marginally in 2020, led mainly by red meat.Port Kembla Grain Terminal at night.
How does the Indian government fit into the overall picture? Is it having a positive or negative effect on global prices?
Are you sure it's Global? Australia's ridiculously high cost of food is a disgrace. Big Business Profiteering from a necessity.
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