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Consume Less, Experts Advise as Malthusian Nightmare Returns to Haunt West
For those of us who have grown up in post-war Britain food prices have gone only one way, and that is down. Sixty years ago an average British family spent more than one-third of its income on food. Today, that figure has dropped to one-tenth. But for the first time in generations agricultural commodity prices are surging with what analysts warn will be unpredictable consequences, warns Daniel Howden, noted journalist.
The price of cereals in the UK jumped by 12 per cent in the past year. And the cost of milk on the global market has leapt by nearly 60 per cent.
Cheap food is about to become a thing of the past. Agflation, to those that believe that it is really happening, is an increase in the price of food that occurs as a result of increased demand from human consumption and the use of food crops as fuel.
On the one hand the growing affluence of millions of people in China and India is creating a surge in demand for food - the rising populations are not content with their parents' diet and demand more meat. On the other, is the use of food crops as a source of energy in place of oil, the so-called bio-fuels boom.
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