Meer dan een jaar geleden verklaarde een mij bekende bankier dat het verstandig was om te beleggen in landbouwland, zowel akkers, als weiden, want, zo was zijn redenering, de prijzen van graan en zuivel zullen drastisch gaan stijgen, aangezien de Chinese markt gigantisch groeit. De moderne Chinezen willen nu ook biefstuk en corn-flakes. Uit het volgende bericht kunt u opmaken dat u nooit rijk zult worden terwijl de rijken met hun geld almaar rijker worden:'Wheat prices in biggest one-day rise
By Javier Blas in London and Isabel Gorst in Moscow
Published: February 25 2008 20:18 Last updated: February 25 2008 20:18
Prices of top-quality wheat jumped 25 per cent to a record high on Monday in their largest one-day increase as Kazakhstan, one of the largest grain exporters, said it would impose export tariffs to curb sales.
The move, which follows similar export restrictions in Russia and Argentina, is likely to put further pressure on already tight global wheat supplies, analysts said.
Akhmetzhan Yesimov, Kazakhstan’s minister of agriculture, said the government wanted to limit exports as it battled against rising domestic inflation of nearly 20 per cent.
Mr Yesimov said: “Whatever happens, we will soon limit exports.”
Kazakh grain, prized for its high protein and gluten content, is similar to some of the scarce top-quality North American crops that jumped in price on Monday.
Spring wheat at the Minneapolis Grain Exchange surged an unprecedented $4.75 to a record high of $24 a bushel as consumers scrambled to secure supplies and speculators poured fresh money into the agriculture market.
The price of spring wheat, used to bake bread, has more than doubled since January and has risen fourfold in the last year, contributing to a rise in global food inflation.
Gavin Maguire, of Iowa Grain in Chicago, said consumers such as mills and bakers, who needed wheat, were “panicking”.
He said: “Historical references are useless. We are breaking all the rules.”
Iraq and Turkey said they were planning substantial wheat purchases to replenish inventories and analysts said China could be forced to follow because of drought damage to its next crop.
Global suppliesare scarce after extreme weather damaged the crops in Australia, Canada and the European Union. As a result, the US is experiencing record demand and its inventories are set to drop to the lowest for 60 years.
Signs emerged in the bond market on Monday that investors had higher expectations for inflation. The difference between yields on 10-year inflation-protected securities and conventional government bonds rose 3 basis points to 2.41 per cent on Monday, up from a January low of 2.04 per cent, a sign that bond investors are nervous that interest rate cuts from the Federal Reserve may stoke inflation.
Additional reporting by Saskia Scholtes in New York
Why are food prices rising?
Food prices
Food prices have been rising steadily in the past few months and the effects are being felt globally. Our multimedia feature explores the factors that contribute to food price inflation.'
The move, which follows similar export restrictions in Russia and Argentina, is likely to put further pressure on already tight global wheat supplies, analysts said.
Akhmetzhan Yesimov, Kazakhstan’s minister of agriculture, said the government wanted to limit exports as it battled against rising domestic inflation of nearly 20 per cent.
Mr Yesimov said: “Whatever happens, we will soon limit exports.”
Kazakh grain, prized for its high protein and gluten content, is similar to some of the scarce top-quality North American crops that jumped in price on Monday.
Spring wheat at the Minneapolis Grain Exchange surged an unprecedented $4.75 to a record high of $24 a bushel as consumers scrambled to secure supplies and speculators poured fresh money into the agriculture market.
The price of spring wheat, used to bake bread, has more than doubled since January and has risen fourfold in the last year, contributing to a rise in global food inflation.
Gavin Maguire, of Iowa Grain in Chicago, said consumers such as mills and bakers, who needed wheat, were “panicking”.
He said: “Historical references are useless. We are breaking all the rules.”
Iraq and Turkey said they were planning substantial wheat purchases to replenish inventories and analysts said China could be forced to follow because of drought damage to its next crop.
Global suppliesare scarce after extreme weather damaged the crops in Australia, Canada and the European Union. As a result, the US is experiencing record demand and its inventories are set to drop to the lowest for 60 years.
Signs emerged in the bond market on Monday that investors had higher expectations for inflation. The difference between yields on 10-year inflation-protected securities and conventional government bonds rose 3 basis points to 2.41 per cent on Monday, up from a January low of 2.04 per cent, a sign that bond investors are nervous that interest rate cuts from the Federal Reserve may stoke inflation.
Additional reporting by Saskia Scholtes in New York
Why are food prices rising?
Food prices
Food prices have been rising steadily in the past few months and the effects are being felt globally. Our multimedia feature explores the factors that contribute to food price inflation.'
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