Nestle chief warns of new food riots

The head of the world’s biggest food company Nestle said on Friday that rising food prices have created conditions “similar” to 2008 when hunger riots took place in many countries.

“The situation is similar (to 2008). This has become the new reality,” the Swiss giant’s chairman Peter Brabeck-Letmathe told the Salzburger Nachrichten daily in his native Austria in an interview.

“We have reached a level of food prices that is substantially higher than before. It will likely settle down at this level.

“If you live in a developing country and spend 80 percent of your income on food then of course you are going to feel it more than here (in Europe) where it is maybe eight percent.”

In 2008, the price of cereals reached historic levels, provoking a food crisis and riots in a number of African countries, as well as in Haiti and the Philippines.

In September the UN food agency’s food price index came in at 225 points, just higher than the peak it hit in June 2008. It is down from the record 237.7 points hit in February this year.

Food price inflation this year is seen as having contributed to the “Arab Spring” unrest in north Africa and the Middle East and there are fears of fresh unrest elsewhere.

The increases are blamed on speculative commodity trading, climate change, rising populations and changing eating habits in countries like India and China, most notably an increase in meat consumption by a growing middle class.

Brabeck-Letmathe said another factor was water, saying humans were “using more water than is sustainable” and calling for the price of water to rise in order to encourage firms and consumers to be less wasteful.


the head of the biggest food company in the world..he knows whats coming to..they all seem to..but the markets just keep going up..i think food will be a major factor in protests in 2012..


~ by seeker401 on October 12, 2011.

4 Responses to “Nestle chief warns of new food riots”

  1. Yes. Amoung other things, who would think food would not also be too exensive to eat, that is if you had any. Might eventually be a moot point.
    Invest in commodities you can’t eat gold or put into your car tank. Now, cash is King. I do feel sorry for those in the world who do not even have fresh water to drink or basic food to eat. I’ts man’s manmade tragedy, while others are dining on designer water bottles, fine wine and champaign, at the expense of the hungry who have nothing.

  2. this nestle piece of shit ought to know! remember when they were poisoning baby formula and sending it to poor countries?

  3. water filtration

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