Hi its zak nag
Found an illuminating article (below+link) about recent rise in food prices and commodities:
the conclusion again , wall street is to be blamed,
"
Food inflation has remained steady since July 2008 when there was $318 billion in the commodity markets - up from the $55 billion speculators dumped in the first 55 days of 2008. In 2003 commodities futures markets were only worth $13 billion. "You had people who had no clue what commodities were all about suddenly buying commodities," an analyst from the United States Department of Agriculture stated.
Between 2005 to 2008 worldwide prices of food rose 80 percent, and they’ve kept on rising. Olivier De Schutter, the U.N. Special Rapporteur on the Right to Food, concluded that in 2008 "a significant portion of the price spike was due to the emergence of a speculative bubble."
"
Your Daily Bread is Goldman Sachs? Hottest Commodity | Economy Watch
Found an illuminating article (below+link) about recent rise in food prices and commodities:
the conclusion again , wall street is to be blamed,
"
Food inflation has remained steady since July 2008 when there was $318 billion in the commodity markets - up from the $55 billion speculators dumped in the first 55 days of 2008. In 2003 commodities futures markets were only worth $13 billion. "You had people who had no clue what commodities were all about suddenly buying commodities," an analyst from the United States Department of Agriculture stated.
Between 2005 to 2008 worldwide prices of food rose 80 percent, and they’ve kept on rising. Olivier De Schutter, the U.N. Special Rapporteur on the Right to Food, concluded that in 2008 "a significant portion of the price spike was due to the emergence of a speculative bubble."
"
Your Daily Bread is Goldman Sachs? Hottest Commodity | Economy Watch