Soaring Food Prices To Spur New Agricultural Development In The Developing World

Wednesday, March 16, 2011 07:11
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Soaring Food Prices To Spur New Agricultural Development In The Developing World

Tags: commodities | emerging markets

Record food prices are pushing farmers to sow more acres and seek out new land for planting in Latin America, Africa, the Black Sea region and other areas.

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Responding to increased demand for food and grains worldwide, agriculture is poised for a major boom as developing countries race to fill the gaps left by stagnating productivity in the developed world.


Analysts at the Reuters Food and Agriculture Summit say they expect more land in developing regions to be planted with crops such as corn, wheat and soybeans.


The United Nation’s Food and Agriculture Organization says global food prices hit record highs in February as shrinking stocks failed to meet surging demand.
 

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