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Supermarket chiefs summoned by UK Chancellor
Beijing News.Net
Thursday 22nd May, 2008
A summit has been called between Britain’s Chancellor and the management of the country’s largest supermarkets.
Alistair Darling, worried over the threat posed to the UK economy by spiralling food prices, will meet representatives of the retail chains, the National Farmers' Union, the British Retail Consortium and commodity traders.
Participants will be made aware of an economic report which has stated that increasing global demand for agricultural produce could force up food prices in the UK by 5 per cent a year over the next decade.
Food producers say that further price rises may be on the way, depending on the wheat harvest this year.
Mr Darling reflected his concern at rising food prices last week when he urged European counterparts to consider a fundamental reform of agricultural subsidies and tariffs.
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