El Nino, Middle East crisis set to push food prices higher
Sri Lanka, Aug. 19 -- In the wake of the El Nino weather phenomenon affecting global agriculture and the Middle East crisis creating hurdles for shipping and trade, prices of imported food items, including essential commodities, are likely to rise by 20-25 percent in the coming months, importers warn.
Leading food-producing countries tend to turn inward to protect their populations from the impact. India has already banned sugar exports, primarily to contain inflation in the country.
Against this backdrop, the Essential Food Commodities Importers' and Traders' Association has informed Trade Minister Wasantha Samarasinghe that prices of imported food commodities are likely to rise by 20-25 percent due to weather-related factors and the ...
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