Supply Scan

US-Panama FTA to Boost Farm Trade A free trade agreement (FTA) between the United States and Panama is expected to go into effect in early November once Panama puts the finishing touches on the pact. “The United States and Panama are on the eve...


Food prices around the world are heading higher as a result of the devastating drought in the U.S. this year and water shortages in major farming areas of Russia and South America.

Analysts at Rabobank, which specializes in agricultural commodities, say the effects will unfold for a while. In particular, global food prices are expected to hit a record high in the first quarter of 2013 and keep climbing from there. By June 2013, prices could be 15 percent higher than current levels.

“The coming year will see the world economy re-enter a period of ‘agflation’ as grain and oilseed stocks decline to critically low levels, pushing the United Nations’ FAO (Food and Agricultural Organisation) Food Price Index above record nominal highs set in February 2011,” warned Rabobank analysts.

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