Animal feed manufacturers will have to brace themselves for a continuing rise in the cost of commodities over the next few months.
According the latest index from the UN's Food and Agricultural Organisation (FAO), the cost of agricultural commodities has rose by 3.4 per cent in January.
This is the seventh consecutive monthly rise that the UN has recorded.
FAO economist and grains expert Abdolreza Abbassian said that the figures clearly showed that the escalation of prices is not slowing.
"The only encouraging factor so far stems from a number of countries, where – due to good harvests – domestic prices of some of the food staples remain low compared to world prices," he said.
It was recently reported that animal feed manufacturers have been reacting to the rising cost of wheat by stockpiling the commodity.
Australia is currently of particular interest to those looking for cheaper grades of feed wheat, according to Reuters.
Typical Guttridge equipment used in the animal feed industry includes:
