The Ministry of Agriculture warns that food
prices are likely to rise by up to 17% by the end of the year. A ministry study
of global cereal prices found that rising commodity prices in recent months
will likely continue and could reach 50% by the end of the year.
The survey said that the worrying rise in
prices for cereals will directly affect prices for milk, poultry, and eggs,
which use these cereals. The ministry expects the price of milk to rise by 13%
and a 14% rise in the price of chicken and turkey, and a 17% rise in the price
of eggs by the end of 2012.
It is doubtful whether the social protest
leaders will accept this explanation, but the Ministry of Agriculture blames
the weather and droughts that have destroyed crops around the world for the
rise in prices for crops. Volatile agriculture commodities markets, as well as
the use of crops for biofuels, which has reduced food crops, have also boosted
prices for cereals.
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