| From globeinvestor.com: Traders in soft commodities are keeping a close eye on events in parts of the developing world where food supply shortages and skyrocketing prices have sparked riots. The World Bank says 33 nations may face "social unrest" as a result. Already in Haiti four people died in two days of rioting. In some countries, hording is punishable by jail terms or even death.
Prices for crops such as wheat and rice - a basic staple for half the world - have doubled over the past year. According to the United Nations' Food and Agriculture Organization global food prices rose 57 per cent in March from the previous year. The supply crunch is prompting exporting nations like China, Vietnam, India and Egypt to hold back supply - forcing consuming nations like the Philippines to ration whatever is available on the open market...... Full Article: Source |