Food prices set to soar soon

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International experts are predicting a major increase in food prices in the coming months. In grain-growing regions in the United States, Russia and Kazakhstan, crops have failed due to drought and high temperatures. In other countries, such as India, France and Germany, excessive rain is producing the same result.

As a result, the price of basic commodities is soaring. Last year, for instance, wheat cost 170 euros a tonne. Now it’s 270 euros. In addition, the commodity market is becoming increasingly volatile. “In a single day”, says Lars Buckow, director of a Dutch flour mill, “the price of wheat can fluctuate as much as it used to in an entire year”.  
Inevitably these rising prices will be passed on to consumers and sooner rather than later according to the experts.