World Wheat Prices Seen Doubling In Next 3 Decades - IFPRI Exec

World wheat prices are expected to double in the next three decades, with an increase of up to 20% in the next decade, Joachim von Braun, director general of the International Food Policy Research Institute, told Dow Jones Newswires Monday. Speaking on the sidelines of a Food Security conference in London, von Braun said wheat is the most “troubled” grain crop going forward due to an expected increased incidence of disease combined with a lack of yield increases.

“Poor people will not be able to afford staple foods, let alone a healthy varied diet,” said von Braun, adding that he is concerned food availability will become a major problem again following food price spikes in 2007-08.

“The probability of another spike in the next four years is fairly high because of protectionism making markets more narrow and increasing volatility,” said von Braun.

(The International Food Policy Research Institute (IFPRI) seeks sustainable solutions for ending hunger and poverty. IFPRI is one of 15 centers supported by the Consultative Group of International Agricultural Research (CGIAR), an alliance of 64 governments, private foundations, and international and regional organizations. - note by UAC Analytical Department)

Source: CME Group