UK Food Prices To Increase 180% By 2030
A latest survey has revealed that food prices are expected to increase by more than double in less than 20 years, putting an even bigger squeeze on already tight household budgets.
The findings, by the leading aid and development charity Oxfam, show that by 2030 the average cost of key crops will rise between 120% and 180%; which is extremely bad news to the populations already struggling to buy adequate food.
The charity, which aims to fight global poverty, is now demanding a radical reform of the global food system, as food prices have already doubled in the last two decades. It predicts half of the rise to come as a result of climate change and is now calling on world leaders to improve the regulation of food markets and invest in a global climate fund.
Barbara Stocking, Oxfam’s chief executive, said: “The food system must be overhauled if we are to overcome the increasingly pressing challenges of climate change, spiralling food prices and the scarcity of land, water and energy.”
According to the Food and Agricultural Organization (FAO) world food prices have now amplified by two since 1990. It means if the trend continues, food prices such as wheat will increase 125%, maize by 175% and live-stock by just over 100%.
The Oxfam research also found that the world’s poorest people now spend up to 80% of their incomes on food.
In its report, Oxfam says a “broken” food system causes “hunger, along with obesity, obscene waste, and appalling environmental degradation.” It wants nations to agree to new rules to govern food markets to ensure the poor do not go hungry.
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