Tuesday, February 8, 2011

Brace yourself for the food-price bubble

If the world has a poor harvest this year, food prices will rise to previously unimaginable levels. Food riots will multiply, political unrest will spread, and governments will fall.
By Lester R. Brown
Christian Science Monitor

In early January, the UN Food and Agriculture Organization (FAO) reported that its Food Price Index had reached an all-time high in December, exceeding the previous record set during the 2007-08 price surge. Even more alarming, on February 3, the FAO announced that the December record had been broken in January as prices climbed an additional 3 percent.

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