Food prices should stay high for the next two to three seasons but should eventually ease as stocks are replenished, the Food and Agriculture Organisation (FAO) said on Thursday. Senior officials from the United Nations agency said corn prices would be supported this year by lower US plantings and by increased demand for ethanol.
No image available
/ 3 November 2007
Empty shelves in Caracas. Food riots in West Bengal and Mexico. Warnings of hunger in Jamaica, Nepal, the Philippines and sub-Saharan Africa. Soaring prices for basic foods are beginning to lead to political instability, with governments being forced to step in to artificially control the cost of bread, maize, rice and dairy products.