Price increase at sugar, soja and coffee in 2008

Some analysts predict that a rise in agricultural prices will continue, others warn that the boom could precede a depression.

Soya bean prices have risen to their highest level in 34 years, the price of wheat rose to a record high as a result of strong global demand and a poor harvest. In addition to food demand, driven by the increased wealth of populations in developing economies, there has been increased interest in agri-fuels as a source of clean energy. The growing middle class in India and China are now purchasing greater quantities of meat and dairy products, while countries such as the US are using crops such as corn and soya beans to produce biofuels as they seek to reduce their reliance on overseas oil.