Will the 200% increase in some food prices return?


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Between 2005 and 2008, average world prices for rice rose by 217%

Experts Ashok Gulati, agricultural economist, chairman of the committee of agricultural costs and prices; Keshav Rao, senior leader, Congress; Nalin Kohli, national executive member, BJP; Hari Damodaran, opinion editor, Business Line, and Devender Sharma, agriculture expert, discuss why food prices are going up despite high food grain production.

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The World Bank President Robert Zoellick speaks about global food prices (Source: Bloomberg)

NIA projects that at the average U.S. grocery store it will soon cost;

  • $11.43 for one ear of corn
  • $23.05 for a 24 oz loaf of wheat bread
  • $62.21 for a 32 oz package of Domino Granulated Sugar
  • $24.31 for a 32 fl oz container of soy milk
  • $77.71 for a 11.30 oz container of Folgers Classic Roast Coffee
  • $45.71 for a 64 fl oz container of Minute Maid Orange Juice
  • $15.50 for a Hershey’s Milk Chocolate 1.55 oz candy bar.
  • NIA also projects that by the end of this decade; $55.57 plain white men’s cotton t-shirt at Wal-Mart will cost.


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