Food inflation may not be dead.
Cocoa prices climbed to a 46-year high this week in New York as concerns about dry conditions across West Africa could reduce yields for the Ivory Coast, the world’s largest producer of cocoa beans, ahead of the mid-crop in April. In the US, a rapidly shrinking cattle herd, now at the lowest levels in seven decades, has pushed the supermarket price of beef to a record of $5.21 per pound . Rising food prices are the central bank’s worst enemy. To end the week, breakfast lovers will be disappointed to learn robusta bean prices […]
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