UN warns on food security as prices hit six-month high ... Food prices around the world jumped by 1.4pc in September to a six-month high, the United Nations said, as the severe US drought cut grain harvests. Rabobank thinks the consumer impact could be less painful this time around compared to 2008, when there were severe shortages of wheat and rice. That is because today's shortages are being seen more in crops used as animal feed, such as corn and soybeans. None the less, analysts expect concerns over food security to remain at the fore, given the long-term upwards trend in commodity prices and the risks posed by the volatile global climate.
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