Saturday, January 5, 2008

Food, the new global crisis

Corn grows in a farm field near Seneca, Illinois. Rising demand for grain to make fuel, food and livestock feed has helped push the prices of corn and soybeans.

"At the centre of the imminent food catastrophe is corn - the main staple of the ethanol industry. The price of corn has risen about 44% over the past 15 months, closing at US$4.66 a bushel on the CBOT yesterday - its best finish since June 1996."

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