The UN's Food & Agricultural Organization (FAO), which has been monitoring cost levels of basic global food items since 1990, has just announced that world food prices have increased to a record high. The index rose 3.4% during the month of January and is expected to continue rising throughout the year. This issue is very serious considering the amount of low-income countries in the world that also have a food deficit. World governments are being called to act now before a greater food crisis hits the world's poor, who typically spend 80% of their income on food! Swiss economist Nouriel Roubini predicted that this news would threaten global stability. And his predictions are coming true, as these rises in commodities have contributed to the recent civil unrest in North Africa and the Middle East.
http://www.cnn.com/2011/WORLD/europe/02/03/world.food.prices.rise/index.html
Mark Zajac
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