Record Food Prices Will Probably Be Sustained, FAO Says
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Record food prices are likely to be sustained this year because of high crude oil costs and smaller crops, said the United Nations Food & Agriculture Organization.
“The potential risk is crude oil may continue to go higher, and if floods and drought happen again, we’ll face further price increases,” Hiroyuki Konuma, the FAO’s regional representative in Asia, said in an interview today. “Now we’re in a much better situation than the crisis in 2008.”