Some advantages for Ireland as food prices rise

All-time high food prices, and some advantages for Ireland with its grass-based production — that could be the lasting legacy of 2012’s global weather upsets, according to researchers at Rabobank, the global leader in food and agri banking.

Rabobank analysis suggests world food prices may reach an all-time high within six months, peaking next summer. Prices for grains and oilseeds will remain at elevated levels for at least the next 12 months.

Global cutbacks in production of grain-fed livestock are seen as inevitable, resulting in higher prices for the reduced supply of meat and milk products.