Date: Jan 25, 2011
"Worrisome" rise in world food prices may be long-lived according to Nestle
"The financial and economic crisis in 2008 put an abrupt end to price rises. I am afraid that this time the rise could be lasting," Peter Brabeck told the Frankfurter Allgemeine Zeitung in an interview released on the paper's Internet site ahead of publication on Wednesday.
Brabeck said it was "madness" to turn agricultural areas over to the production of biodiesel, even if targets for production of the fuel had been trimmed.
"No food for fuel" was one answer to the food inflation problem, Brabeck said. A second was greater investment in agricultural production.
Brabeck also lashed out at "arbitrary political decisions," such as export bans on wheat or sugar, that hampered the free market.
Link: http://uk.reuters.com/article/2011/01/25/nestle-food-idUKLDE70O2GE20110125
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