Vol. 464 No. 2
34 Mr. B. O'Keeffe asked the Minister for Agriculture, Food and Forestry the concerns, if any, he has at the explosion in grain prices on world markets; and the implications, if any, that will have for food prices in this country. [5628/96]
The significant increase in world grain prices over the past year was due to reduced supplies resulting from adverse weather conditions in some of the major exporting countries in 1993 and 1994, coupled with increased demand in consuming countries.
I am not in a position to say what impact, if any, this will have on domestic food prices. However, given the highly competitive nature of the food industry, I am hopeful that any increase in prices due to higher raw material costs will be kept to a minimum.
