When we went to do our groceries shopping last week, we were so surprised with the hike in the cost of this particular kind of food. The price went up to almost 30% from BND2.7 to BND3.5. What the...?!x?!! But this only reflects on one kind of food, imagine if there are ten or more inside your shopping cart ..... How are we going to cope with our groceries bills? Are we going to substitute for cheaper one but the quality is..... or do we still stick to our usual consumption albeit the price?
Well, as quoted from paper prepared by FAO, IFAD and WFP there are six reasons for the increase in food prices worldwide....
1. World cereal production decrease due to bad weather in major producing countries
2. Stock levels are very low
3. Petroleum prices and food prices are highly correlated
4. Increased demand from the biofuels sector
5. Economic growth in some large developing countries is leading to changes in diet and increased demand for food crops
6. Trade policies put in place by some countries has contributed to higher prices in certain cases
What will happen to our Millennium Development Goal (MDG)? Something to for us orang kebanyakan to talan and orang basar to ponder about....
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