Real Reason Food Prices Going Up?
When will this bubble burst?
(Reuters) U.N. says markets are to blame for world food crisisGlobal investment funds and the weak dollar are largely to blame for high world food prices, a senior official of the United Nation's Food and Agriculture Organization said on Thursday.
"The crisis is a speculative attack and it will last," said Jose Graziano, the UN food and farm organization's regional representative for Latin America and the Caribbean.
"This is not a conspiracy theory," he said.
Across the globe foods from bread to milk have become more expensive and in some countries helped fuel inflation. High prices for rice, beans and other food staples provoked food riots in Haiti this week.
"The lack of confidence in the (U.S.) dollar has led investment funds to look for higher returns in commodities ... first metals and then foods," Graziano told a news conference in the capital.
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