Rising Oil Prices To Impact Food Costs
Rising Oil Prices To Impact Food Costs
The United Nations' Food and Agriculture Organization released its monthly Food Price Index on Thursday, showing that prices hit a record high in February for the second straight month, and warned that continuing increases in the price of oil could impact already volatile cereal markets.
Climbing food prices are an increasingly significant global concern, fueling political unrest in the Middle East and North Africa which has already led to the unseating of governments in Tunisia and Egypt and has driven oil prices up in the last few weeks.
Insiders say that the higher prices on commodities like grains and fruits and vegetables will likely remain inflated at least until the condition of new crops is determined. Many economists also feel that rising fuel costs will continue to bleed over into grain markets, which have seen the benchmark US price for wheat climb 60 percent in just the first two months of 2011.
Oil prices are at a 2-and-a-half year high, closing in on records set in summer, 2008, with markets reacting to unrest in several key producers including Libya. Insiders are concerned that the unrest could end up spilling over into Saudi Arabia, a key OPEC producer and a vital US ally. Farmers, food manufacturers, and distributors are affected by rising fuel costs, and eventually muss pass higher prices on to consumers.
The United Nations' Food and Agriculture Organization released its monthly Food Price Index on Thursday, showing that prices hit a record high in February for the second straight month, and warned that continuing increases in the price of oil could impact already volatile cereal markets.
Climbing food prices are an increasingly significant global concern, fueling political unrest in the Middle East and North Africa which has already led to the unseating of governments in Tunisia and Egypt and has driven oil prices up in the last few weeks.
Insiders say that the higher prices on commodities like grains and fruits and vegetables will likely remain inflated at least until the condition of new crops is determined. Many economists also feel that rising fuel costs will continue to bleed over into grain markets, which have seen the benchmark US price for wheat climb 60 percent in just the first two months of 2011.
Oil prices are at a 2-and-a-half year high, closing in on records set in summer, 2008, with markets reacting to unrest in several key producers including Libya. Insiders are concerned that the unrest could end up spilling over into Saudi Arabia, a key OPEC producer and a vital US ally. Farmers, food manufacturers, and distributors are affected by rising fuel costs, and eventually muss pass higher prices on to consumers.
Comments
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit






0 Comments
Click here to sign up now.