ANZ said recent price increases in staples reflected the temporary impact of unusual weather and that prices would revert to more normal levels once Australia's worst drought in a generation broke. "The current sharp growth rates in world agricultural prices should not be sustained," ANZ economists said in a report entitled "Food Stress"...
Thursday, October 18, 2007
Drought, demand push up food prices in Australia: report
Terra Daily, via Agence France-Presse: Drought and increased global demand are behind hikes in food prices, a leading Australian bank said Wednesday as it warned grocery bills could remain permanently higher.