World Food Prices

10 Jan 2011

Source: The Economist
An index of world food prices compiled by the UN reached a record level in December, surpassing its previous high of June 2008, a year in which the cost of food sparked rioting in Haiti and elsewhere. Unlike then, the prices of some staple cereals such as rice remain relatively stable, though the price of wheat is rising. The increasing costs of other cereals and sugar were the main factors behind the rise in the index.

The presidential commission investigating the causes of last year’s oil spill in the Gulf of Mexico released a chapter containing the key findings of its final report, due on January 11th. The chapter stated that “most of the mistakes and oversights” leading to the explosion at BP’s well “can be traced back to a single overarching failure—a failure of management”.

Read more here