As wheat prices hit a new high and global reserves reach a record low, the head of the UN World Food Programme (WFP) says that it may be necessary to ration distributions, reports the FT.
Josette Sheeran, WFP executive director, said the agency would look at “cutting the food rations or even the number or people reached” if donors did not provide more money to cover the 40% rise in the cost of the grain over the past 12 months.
Other agricultural commodities are also seeing a sharp rise in prices, including soyabean and rice.
The sharp price increases cannot be blamed entirely on the growth in demand from the biofuels sector, say analysts. Recent poor harvests in places such as Australia and China have squeezed supplies, they say.
Another pressure on the price of wheat is the growing demand for meat from increasingly affluent sectors in China and India, as more people switch away from grain-based diets.
From the source:
WFP – Food prices threaten nutritional crisis
Other media:
BBC – Fresh records for price of wheat
Guardian – We are fighting a losing battle, admits UN
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