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Food prices up as commodity values climb
11 Oct 2007
Most commodity prices are on the way up and are pushing up the price of food in our supermarkets. According to the Westpac-National Farmers Federation commodity index wheat recorded the strongest increase of 17 in September and is now worth 78 per cent more than it was just a year ago. Prices for dairy products were up 1.1 per cent in the month and are now 88 per cent higher over the year. Wool prices rose by 1.6 per cent in September to be 21 per cent over last year's price, helped by strong demand from China and a reduced sheep flock here. The only loser is sugar where prices fell by 2.2 per cent in September and have fallen by 28 per cent over the past year.
Financial Review, 11/10/2007
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