Nestlé’s former CEO expects a further rise in global food prices

Food prices are expected to increase further all over the world – told Peter Brabeck-Letmathe, Nestle chairman of the supervisory board, to an Austrian newspaper.

After the food crisis of 2008, the world is in the middle of an another food price crisis – said Brabeck-Letmathe in Wednesday's edition of the Kurier newspaper.  Previously food prices declined for 30 years until 2008, when  the prices increased by up to 300 percent. Currently, food prices are increasing again, due to the drough, on the other hand, due to biofuel production. (Pálfy M. Katalin, MTI)