Agricultural crop prices will continue to soar, Credit Suisse has warned.

Global food production needed to rise at 3.3% a year to keep pace with a growing population and biofuel needs, but it was likely to rise little more than 2%, Credit Suisse predicted.

“Agricultural markets are straining to keep up with demand and prices have been spiralling upwards,” Credit Suisse analyst Andrew Garthwaite told the Daily Telegraph. “Is this a temporary issue? We think not.”