SME Chamber President meets MDB Officials
22 April 2024
Malta Chamber of SMEs President Mr Paul Abela met MDB Chairman Leo Brincat and CEO...
The Spiraling prices of food: Is it the end of an era?
23 June 2008
In spite of the fall in the price of wheat on the interest national market from February peak pressures caused by drought, storms and flooding caused by global warming continue to reduce world harvests of staples such as rice below expectations and food prices are expected to soar even higher than at present.
As more land is turned over to producing biofuels, wheat prices leap again. Higher oil costs flow through to transport costs in farming and transporting food.
Malta imports more than 75% of all its food needs. Consumers find they are spending far more of their disposable income on basic foodstuffs. In less developed parts of the world, millions face real hunger as staples are priced beyond their reach. Experts believe the age of cheap food is ending and no existing technical fixes to deal with the problem exist.
