David Hunkar submits:
Food prices skyrocketed worldwide in 2007 and early 2008 leading to a crisis in many developing and under-developed countries. In 2008 and 2009, prices stumbled and the crisis faded away from headline news.
Last November BusinessWeek had an interesting report titled Land Rush in Africa. The article discussed in detail how Agri-business and global investors are scooping up fertile farmland in Africa. In the same month World Bank President Robert B. Zoellick warned that low food stocks and shortages could force food prices up again in 2010. At a panel discussion on the food crisis, three leaders warned that the food crisis may repeat again. One of the leaders that shared this thought was Dr. Josette Sheeran of the United Nation World Food Progamme (WFP). She said that the cost of cereal had risen 17% and global food prices are 50% higher than just five years ago.