The world faces a prolonged period of high food prices, the International Monetary Fund has warned, arguing that the main reason for the sharp rise in agricultural commodities prices is a structural shift in demand.
The warning came as the UN Food and Agriculture Organisation’s (FAO) index of global food prices rose to a record high in February, the eighth consecutive monthly increase.
In an article published on Thursday, IMF commodities economists wrote that “the world may need to get used to higher food prices”.
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