Financial Times FT.com

The global food crisis

Food prices forecast to stay high for 10 years

By Javier Blas in London

Published: May 21 2008 23:31 | Last updated: May 22 2008 10:57

Food prices have undergone a paradigm shift and will not drop back to pre-crisis levels for at least the next 10 years, putting long-term pressure on governments facing the food crisis, according to a forthcoming report.

The report, by the Organisation for Economic Co-operation and Development and the UN’s Food and Agriculture Organisation, will say food prices have moved to a “higher plateau” because of rising demand from the biofuels industry and developing countries such as China.

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