OECD predicts up to 40 per cent grain price rises
A report released this week by the Organisation for Economic Co-operation and Development (OECD) predicts rises in wheat and grain prices of between 15% and 40%.
However, livestock prices are expected to rise more slowly, despite increasing demand by developing countries for meat.
The report envisages a slower growth in global agriculture output over the next 10 years compared to the previous decade. However this will still be sufficient to meet the 70% increase in world food production required by the demand from rising population levels by 2050.
The OECD's secretary-general Angel Gurría said: "Governments should implement measures to ensure that farmers have at their disposal better tools to manage future risks, such as production contracts, insurance schemes and futures markets."
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