09 Feb '12, 5pm

More Gyrations in the Price of Food

European Pressphoto Agency Shoppers at a food market in Beijing on Thursday. Global food prices had been falling for months. However, hopes that the decline would continue, easing the price run-up of recent years, were dashed on Thursday. An index that tracks food prices around the world has taken its first monthly jump since July, and a big one. The Food and Agriculture Organization of the United Nations reported that food prices rose about 2 percent from December to January, although the preceding months-long decline still leaves them 7 percent below the levels of January 2011. So prices of food commodities are bouncing around at a fairly high level, roughly double what they were as recently as 2006. Abdolreza Abbassian, a senior grains economist for the F.A.O., said in a statement that poor weather, especially in Europe and South America, had affected sentiment and pric...

Full article: http://green.blogs.nytimes.com/2012/02/09/more-gyrations-...

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