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One of the positives from rising food prices

Geoff Riley

24th April 2008

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The Financial Times reports that

“Afghanistan’s opium crop is forecast to shrink by as much as half this year after 2007’s record harvest, counter-narcotics officials in Kabul said, as evidence emerges that some poppy farmers are switching to legal crops because of rising food prices…......Anecdotally, a lot of farmers have calculated that, with wheat prices being what they are, they can make money out of planting wheat.”

The fall in output is also the result of climatic conditions and also the lagged effects of the bumper opium crop last year which in turn led to a sharp fall in prices

The rest of the article is here

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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