Farmers who cannot afford feed ‚liquidating‘ pig and cattle herds will drive food inflation to record high, says Rabobank report
By Rupert Neate and Josephine Moulds
As well as hitting consumers‘ pockets, the predicted 14% jump in food prices will also dash the Bank of England’s hopes of pushing inflation down to 2% by next year.
Farmers across the world have begun a mass slaughter of their pig and cattle herds because they cannot afford the cost of feed, which has soared following the worst US drought in living memory, according to a report published on Wednesday.
Experts at investment bank…
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