28 Mar '12, 12pm

A Clarion Call on the Food Supply

A Clarion Call on the Food Supply

Reuters A farmer took cucumbers from his field to a market in the northern Indian city of Allahabad last week. A spike in vegetable prices has fanned food inflation in India, where prices last month were 7 percent higher than a year earlier. For anyone who thought the run-up in food prices in recent years was a fluke or a short-term blip, it might be time to reconsider. We have certainly seen intermittent price dips in between the spikes of the last few years, but prices are still at pretty high levels over all. There has been no return to the era of slowly falling food prices that prevailed in the 1980s and 1990s. Sober forecasters like those at the United States Agriculture Department now expect the era of higher prices to extend into the foreseeable future. Underlying the price jump is a tight balance between supply and demand, and it has come to a head at a time when p...

Full article: http://green.blogs.nytimes.com/2012/03/28/a-clarion-call-...

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