• September 26th, 2018
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Food Prices 'Going Through the Roof'

By Catherine Sasman WINDHOEK The price of food has soared at an unprecedented rate, due to a combination of increases driven by the production of bio-fuels instead of food crops, the increased demand for protein and climate change putting pressure on food production on a global scale, said experts. In Namibia, the annual price increase of food - from February last year (15 percent) to the same time this year - has been 15.6 percent. Milk, eggs, oils, vegetables, as well as potatoes and other tubers experienced an even higher annual increase of more than 20 percent. "Food prices are going through the roof," commented Jesko Woermann, a director of retail chain Woermann Brock. Food accounts for about 30 percent of the overall consumption basket, while in Namibia many families spend up to 100 percent of their income on food alone. Woermann said the inflation on foodstuff has gone up by 21 percent from March last year to February this year. "The main problem is the fact that the price of wheat has doubled - from N$1??????'??
2008-04-14 00:00:00 10 years ago
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