Tuesday, April 22, 2008
Rising cost of staples
THE rising cost of food is being felt around the world, by the poor especially and, in turn, by politicians. Greater demand from China and India as more people switch to rich diets is lifting prices, which had been low for some 30 years. Last week the prime minister of Haiti resigned in the face of a mob angry at the cost of food, while the Philippines made hoarding rice a crime punishable by life imprisonment. The price of wheat rose 77% in 2007. Since January the price of rice has jumped by 141%. But growing more food takes time, and as the land available for production has decreased, governments and farmers must look to improve crop yields.
The Economist.
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