A government advisor said everyday products such as cocoa and meat could become relative luxuries by the 2040s.
Professor Tim Benton, head of Global Food Security working group, added there could be shortages in the UK in the future as the emerging middle class in south-east Asia sparks a revolution in \”food flows\” such as the trade in grain and soya around the world.
Professor Benton, from the University of Leeds, told the Daily Telegraph: \”Food is going to be competed for on a global scale. There\’s been a lot written about where food prices are going to go but they are certaintly going to double, with some trebling. It\’s not just fruit and vegetables, but everything.\”
So, general inflation we expect to be around the 2% or so mark. Mainly because that\’s what the damn target is, 2 % or so inflation. 2% inflation over 35 years means a doubling in the general price level. So we already expect food prices to double into the late 2040s along with the price of everything else doubling. And incomes more than doubling of course.
The world\’s population is tipped to rise from 7 billion to 9.3 billion by 2050. Two years ago, Oxfam warned food prices were set to double by 2030 and that millions more could suffer food shortages because of a \”perfect storm\” of ecological and sociological factors.
Those sociological factors being that the poor are getting rich and that they\’d like to eat yummy meat from animals as well. And that same Oxfam report noted that food expenditures as a portion of income would continue to fall even as prices rose. Because, you know, the price rises are being driven by that very fact of people getting richer.