WTO head Pascal Lami said the main reason for the increase of prices for the food products is an embargo for wheat exports.
Lami said the increase of prices is connected as well with the imposition of restrictions by Ukraine and Russia for the export. This was caused by the decrease of yield because of drought. WTO head believes the exporters should increase its productivity. "The decrease of export caused a panic in the world market" - he said.
For information, the index Standard and Poor's GSCI for the last 12 month increased for 43 %. Except of embargo the prices affected flooding happening in Canada, China and Australia.
