UN Warns of 'Food Crisis' as Prices Continue Surge?
The FAO Food Price Index climbed 6 percent in July 2012 after three months of previous decline and indicates that the extreme drought ravaging US croplands and a similar failure in India and elsewhere is having a severe impact food costs.
"There is potential for a situation to develop like we had back in 2007/08," the FAO's senior economist and grain analyst Abdolreza Abbassian told Reuters.
“This is not some gentle monthly wake-up call," said Colin Roche, a spokesperson for Oxfam International. "It’s the same global alarm that’s been screaming at us since 2008. These new figures prove that the world’s food system cannot cope on crumbling foundations. The combination of rising prices and expected low reserves means the world is facing a double danger."
Roche warned that without action millions more would join the billion people who are already hungry in the world and said that the agricultural policies of the world's wealthiest nations were as much to blame for the impending crisis as anything.