I have been following the rise in food commodity prices recently and if we look at the CRB (Commodity Research Bureau) foodstuffs index we see that it entered 2014 at around 365 and as of last night’s close is at 421.85. So up by just under 16% in the year so far. It has been quite a sharp bounce back from the previous downwards trend that began in the spring of 2011 and we have now regained the drops of 2013.
It appears that these price rises have affected the breakfast habits of at least one journalist on the Financial Times.
“Everything we have for breakfast is up,” said Abdolreza Abbassian at the UN Food and Agriculture Organisation of the increases of coffee, orange juice, wheat, sugar, milk, butter, cocoa and pork. “This has all happened unexpectedly but shows how quickly things can change.”
Apparently the power of the stomach…
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