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Nestle chief warns of new food riots

Posted By yihan On October 7, 2011 @ 7:49 am In Featured Stories,Tile,World News | Comments Disabled

AFP [1]
Friday, October 7, 2011

The head of the world’s biggest food company Nestle said on Friday that rising food prices have created conditions “similar” to 2008 when hunger riots took place in many countries.

“The situation is similar (to 2008). This has become the new reality,” the Swiss giant’s chairman Peter Brabeck-Letmathe told the Salzburger Nachrichten daily in his native Austria in an interview.

“We have reached a level of food prices that is substantially higher than before. It will likely settle down at this level.

“If you live in a developing country and spend 80 percent of your income on food then of course you are going to feel it more than here (in Europe) where it is maybe eight percent.”

Full story here. [1]

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URLs in this post:

[1] AFP : http://www.france24.com/en/20111007-nestle-chief-warns-new-food-riots

[2] Food Riots Next? FAO Says Food Prices Surpass Record Highs Seen During 2007-2008 Bubble: http://www.prisonplanet.com/food-riots-next-fao-says-food-prices-surpass-record-highs-seen-during-2007-2008-bubble.html

[3] Food prices to skyrocket, riots could follow, suggests USDA: http://www.prisonplanet.com/food-prices-to-skyrocket-riots-could-follow-suggests-usda.html

[4] IMF Chief Warns Of Riots In Response To Economic Crisis: http://www.prisonplanet.com/imf-chief-warns-of-riots-in-response-to-economic-crisis.html

[5] OPEC chief warns of ‘unlimited’ oil prices if Iran is attacked: http://www.prisonplanet.com/opec-chief-warns-of-unlimited-oil-prices-if-iran-is-attacked.html

[6] Food Riots Have Already Begun as Global Grain Prices Skyrocket, Supplies Dwindle: http://www.prisonplanet.com/food-riots-have-already-begun-as-global-grain-prices-skyrocket-supplies-dwindle.html

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