Consider the factors that have contributed to rising food prices. Split these into demand factors and supply factors.
Answers
Answer:
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Explanation:
Global food prices have risen on average by more than 135% over the last 5 years. While the price of food has been highly volatile, with spike during 2008, there is clearly a trend pattern of a long term rise. This can be attributed to various root causes, both demand and supply side in nature.
Answer:
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Explanation:
□Global food prices have risen on average by more than 135% over the last 5 years. While the price of food has been highly volatile, with a spike during 2008, there is clearly a trend pattern of a long term rise. This can be attributed to various root causes, both demand and supply side in nature.
Global food prices have risen on average by more than 135% over the last 5 years. While the price of food has been highly volatile, with a spike during 2008, there is clearly a trend pattern of a long term rise. This can be attributed to various root causes, both demand and supply side in nature.In terms of demand side causes, it has been suggested that global population growth may be a cause of the long term rise in food prices. According to the International Food Policy Research Institute, over past years global food production has been increasing at around 1 to 2% per year, while population has been increasing at approximately 4%. The theory of global population outgrowing global food production has been in existence for many years, with the idea being first developed by British demographer Thomas Malthus. The theory is based on the fact that global population grows exponentially, while food production grows proportionately. This constant increase in demand for food would account for an underlying increase in the global price of food.□