Friday, April 27, 2012
[IWS] Word Bank: FOOD PRICE WATCH: Food Prices Rise Again on Higher Oil Prices and Adverse Weather [25 April 2012]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
FOOD PRICE WATCH [25 April 2012]
[full-text, 6 pages]
Press Release 25 April 2012
Food Prices Rise Again on Higher Oil Prices and Adverse Weather
Global food prices have increased by 8% in the last four months since December 2011, and in March 2012 were only 6% below their February 2011 historical peak. All key food prices have increased, except for rice.
Increasing international oil prices, adverse weather conditions, Asia's strong demand for food imports, and the persistent European financial crisis have contributed to this increase, notwithstanding the projected bumper harvests of rice and coarse grains and the corresponding increase in ending food stocks.
Domestic prices remain high in many parts of the world, with the magnitude of increases typically exceeding price declines across countries. If the current production forecasts for 2012/13 do not materialize, global food prices could reach higher levels, underscoring the need to remain vigilant and improve the monitoring of early signals of global and regional crises.
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.