Headline: "How much your groceries will cost in 10 years?"

There's no doubt that we're going to have to spend more on food. And yet, compared to other parts of the world, we're lucky. We spend 13 per cent of our household budget on food, down from 30 per cent, 50 years ago. For a family in the developing world, food is likely to be between 50 and 75 per cent of the total, according to the World Bank. What's more, in poorer countries, people buy raw ingredients, so if the price of corn doubles, that seriously affects their buying power.

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