Triple Crisis blogger Martin Khor published the following opinion article in The Star on the causes and implications of recent spikes in global food prices. Read more about this issue in recent posts from Triple Crisis bloggers Jayati Ghosh and Timothy Wise.
High food prices cause for concern
Food prices across the world have soared to their highest ever level, even exceeding the previous peak levels in mid-2008 before the recession caused by the global financial crisis dampened the prices.
The food price inflation is causing concern in many countries, as access to food is important for social stability.
The last time prices shot up to such high levels, in 2008, there were riots in many countries.
The soaring prices also contributed to the discontent that led to the current protests in Egypt and elsewhere in the Middle East, according to the World Food Programme.
“In many of the protests, demonstrators have brandished loaves of bread or displayed banners expressing anger about the rising cost of food staples such as lentils,” said its executive director Josette Sheeran.