Paul Krugman has a great editorial that quite neatly summarizes why we've seen a rather sudden increase in the price of commodities. Climate change, increased demand for meat in middle income countries, and subsidized corn to produce ethanol (not the green fuel it is made out to be) have been driving up the price of wheat and other grains. Add to that a fall in production in Australia and you have a shortage that had caused the World Food Program to appeal for funds.
You can read the full piece here.
There is also a piece up on reliefweb that gives the humanitarian perspective in more depth.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment