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Latest Economy of Africa Stories

2008-09-01 18:00:18

By MELVIN R. THOMPSON Anyone who has been to a supermarket lately knows that the price of food is going up. In fact, food prices are now rising at twice the rate of inflation, the fastest increase in nearly two decades. Factors behind this price spike include higher energy costs, the weak dollar, growing global demand and biofuel mandates. Of all these factors, the only one within our control is the ill-conceived federal mandate that diverts more corn to ethanol production. Recent...

2008-08-29 15:00:39

By PALMER, Rebecca SHOPPERS are turning away from cheddar cheese and butter as food prices continue to rise. The latest food price index figures, issued by Statistics New Zealand yesterday, show food prices climbed by 7.6 per cent in the year to July. The biggest individual contributors to the increase were cheddar cheese, up 59.3 per cent, butter (89.4 per cent), bread (19.6 per cent), fresh milk (10.2 per cent) and ready-to-eat food (7.3 per cent). Chris Pike, Statistics New...

2008-08-29 12:01:02

By Aaron French MY LAST COLUMN discussed some of the ecological issues leading to the high food prices that we find at the grocery store, including droughts, floods and unusual weather patterns. All of these reduce the crop yields that farmers produce, which raises food prices through economic market forces. "Economics is a lot like nature. It's all about balance," explains Martin Medeiros, an economist who teaches for UC Berkeley Extension. When things are unbalanced, it creates a...

2008-08-29 09:00:46

By Andrew Downie Luciano Alves planted beans, corn and grain on about 3,000 hectares of his farm in southern Brazil last year. This year, he is planting 3,500 hectares. And he credits Brazil's president, Luiz Inacio Lula da Silva, with the increase. "The government is helping us finance the purchase of new machinery," said Alves. "They reduced the interest rates we pay and have given us more time to pay off the loans. It's vital." Rising food prices mean many farmers around the world are...

2008-08-28 12:01:06

By STEVENSON JACOBS CUTLINES A customer looks at milk on display at JJ&F Market in Palo Alto, Calif. U.S. retail food prices have jumped nearly 6 percent this year -- triple the typical rate of inflation -- and the new prices tend to stick. Paul Sakuma/Associated PressNEW YORK -- As prices for crude oil and other commodities ease, consumers have gotten a small dose of relief at the gas pump. But don't expect less pain at the grocery counter. Food inflation is here to stay -- and...

2008-08-28 12:01:06

To: RETAILING EDITORS Contact: Heather McElrath of Rabobank, +1-347-224-5102, heather.mcelrath@rabobank.com NEW YORK, Aug. 28 /PRNewswire/ -- A new Rabobank "Food Retail" report finds consumer preferences are driven to 'extremes.' However, increased food prices could increase consumers' price sensitivity. "In spite of the economic decline, many consumers continue to be driven by factors beyond price, which has created a 'barbelling' trend," said Rabobank Food & Agribusiness...

2008-08-28 06:00:52

By Andrew Downie Luciano Alves planted beans, corn and grain on about 3,000 hectares of his farm in southern Brazil last year. This year, he is planting 3,500 hectares. And he credits President Luiz Inacio Lula da Silva with the increase. "The government is helping us finance the purchase of new machinery," Alves said. "They reduced the interest rates we pay and have given us more time to pay off the loans. It's vital." Rising food prices mean that many farmers around the world are...

2008-08-27 03:00:45

By Morgan, Matthew The prices that Africa's commodities fetch in the world market have never been higher. Ironically, production problems, for example power shortages in South Africa, have served to raise prices even further. The question is, how can Africa best employ this commodity windfall? Report by Matthew Morgan Wherever one looks in Africa there is increasing prosperity from commodity prices - and the best may be yet to come. The benchmark commodities index - the Jefferies- Reuters...

2008-08-24 12:00:27

Text of report in English by opposition Sudanese newspaper Khartoum Monitor website on 24 August This has become an expensive commencement since some months ago the rise of prices on food commodities. Most of the prices have increased unnecessarily making some people unable to afford to buy even a single meal. Some years ago when the prices of any food item increased, the citizens in Khartoum city went on strike demanding their rights to know why there is an increment in the prices for food...

2008-08-24 12:00:27

By Stevenson Jacobs Associated Press NEW YORK -- As prices for crude oil and other commodities ease, consumers have gotten a small dose of relief at the gas pump. But don't expect less pain at the grocery counter. Food inflation is here to stay -- and will probably get worse for some things. That's because retail prices for cereal, eggs, cheese and meat generally lag by several months or longer world prices for wheat, corn and soybeans -- the raw ingredients of so much of our food. Some...


Word of the Day
cacodemon
  • An evil spirit; a devil.
  • A nightmare.
  • In astrology, the twelfth house of a scheme or figure of the heavens: so called from its signifying dreadful things, such as secret enemies, great losses, imprisonment, etc.
'Cacodemon' comes from a Greek term meaning 'evil genius.'
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