High prices of oil sent up not only costs of food production. It also made most countries switch to biofuel, which means rising prices of corn, sugar and soy beans for many years to come.
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Japanese can feel the stiffening situation when they buy mayonnaise and miso chiefly made of soy bean paste. Both products are important culinary ingredients. Mayonnaise has risen about ten percent in two months, said cook Daishi Inoue. “If prices keep going up, we will have to raise our prices as well.”
Italians eat at least 30 kilograms of pasta per capita annually. In September middle-class citizens organized a symbolic pasta-boycott to oppose growing prices. Indeed, in the next two months prices dropped five percent.
Nervous markets
While in past decades subsidies enabled exporting countries to hold large corn supplies, liberalization of world trade lowered these reserves considerably. Moreover, agricultural production became more responsive to market development. Prices can be also influenced by bad weather and crop failure. For instance, a drought in Australia and flooding in Argentina sent the price of butter in France soaring 37 percent from 2006 to 2007. Gourmets can feel that when they order snail dishes prepared in butter. Prices of croissants and well-known Pain au Chocolat also went up.
“We need a response on a large scale, either the regional or international level,” argued Brian Halweil of the environmental research organization Worldwatch Institute. Further still, all civilized countries are involved in world food trade. “This is a global crisis,” Halweil concluded.
Source: bigness.ru
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