Along with water and energy, which are related to its production, it is one of the key commodities necessary to keep the world’s 7.1 billion people alive, healthy and happy. Its price and availability can determine the fate of nations and the stability of the world’s economic system. Rising prices mean risk of increasing poverty, risk of political instability and, in the worst instances, a creeping spread of hunger and malnutrition about the globe.
And ever since the year 2000 world food prices have been steadily and inexorably rising.
(UN FAO Food Price Index through February of 2014. Image source: UN FAO.)
The UN FAO Index — An Indicator for Global Crisis
The United Nations provides a valuable index that comprehensively assesses the overall cost of food in both real and nominal terms. Managed by the Food and Agriculture Organization (FAO), the food price index has been…
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