OECD: Food prices to ease before steady climb
Washington PostPosted: May 30th, 2008 by Thomas L. Knapp
“The recent steep jump in global food prices should ease in the near term, according to a new report, but prices over the next decade are likely to remain high, spurred by the rising cost of oil, the declining dollar and increasing demand for biofuels. The rush to invest heavily in ethanol and other biofuels needs to be reevaluated, particularly since the benefits ‘are at best modest, and sometimes even negative,’ according to the annual global agriculture assessment by the U.N. Food and Agriculture Organization (FAO) and the Organization for Economic Co-Operation and Development (OECD).” (05/30/08)
