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Asian Journal of Research in Business Economics and Management
Year : 2013, Volume : 3, Issue : 6
First page : ( 136) Last page : ( 146)
Online ISSN : 2249-7307.

High world food prices-causes and consequences

Dr. Srikumar U. Jayalakshmi

Professor, ITM Business School, Chennai

Online published on 4 June, 2013.

Abstract

This article addresses the issue of “agflation”- agricultural commodity increases. Both real and nominal prices have been looked into while looking at price rise. The main highlight of the article is that it looks at price projections for the year 2017 based on a OECD report. A detailed analysis of the past, present and future rise in prices have been taken into consideration. This detailed analysis is followed by the causes for food price increases. The causes have been looked into from the demand and the supply side. The article does not stop with identifying issues; it attempts to give solutions also. The key solution lies in adopting sustainable agriculture especially by the developing countries.

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Keywords

Food prices, OECD, causes for high food price, consequences, solutions.

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