13 May '11, 6pm

Aerofarms: When Farming Goes Vertical: The last six months have seen sharp increases in the global prices of w...

Aerofarms: When Farming Goes Vertical: The last six months have seen sharp increases in the global prices of w...

The last six months have seen sharp increases in the global prices of wheat, maize, sugar and edible oils. According to the World Bank, the food price index increased by 15% between October 2010 and January 2011 and is only 3% below its 2008 peak. Weather shocks, export restrictions, curtailed supply and soaring demand for maize and other products pushed prices to levels that threaten millions of poor people. The current situation also reflects the established U.S. biofuel targets -- the Congress mandated that biofuel use must reach 36 billion gallons annually by 2022. China, Indonesia, India and the European Union (EU) increased their demand for corn for biofuels. Combined with rising fuel costs, this is driving food prices to an all-time high. Rising food prices are affecting mostly developing countries with steadily growing populations and thus the growing demand for fo...

Full article: http://www.greentechmedia.com/articles/read/aerofarms-whe...

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