Rising Food Prices

Are high food prices here to stay?

  • By:Sarah Glazer
  • Content Type: Report
  • Publisher: CQ Press
    • Publication year: 2011
    • Online pub date:
  • DOI: https://doi.org/10.4135/cqrglobal20111018

Introduction

Global food prices reached record highs early this year, sending millions around the world into poverty and contributing to starvation in East Africa. Many blame the government-subsidized growth in the market for biofuels, such as ethanol. Biofuels are expected to consume 40 percent of this year's corn crop from the world's largest producer — the United States. Others say commodities speculators caused food prices to ricochet wildly. Europe is considering adopting restrictions on speculation similar to a new U.S. law, but Wall Street is lobbying hard to weaken the American regulations. Perennially high food prices may be the first sign that changing climate is handicapping agriculture. To feed the world's growing population, experts say farmers must double their food output by mid-century — a tall ...

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