Food Crisis Update

Somalians demonstrate against high food prices in Mogadishu.

Photo: AP Photo/Mohamed Sheikh Nor

related articles

The food crisis continues to hit communities hard around the globe.

Hungry Somalis protested this week against food traders who are rejecting old currency notes, which are still legal there.

According to a Reuters article, hundreds of youths barricaded roads, stoned vehicles, and burned tires in parts of Mogadishu demanding that traders accept the old Somali notes from starving residents. The news service quoted one 25-year old: "I'm hungry and yet cannot even buy food. I fear we might start eating one another."

Meanwhile, The Independent says giant biotech corporations are making huge profits thanks to the food crisis.

Monsanto, for example, reported that its net income for the three months up to the end of February this year had more than doubled over the same period in 2007, from $543m to $1.12bn.

The article says that speculation is helping to drive the prices of basic foodstuffs out of the reach of the hungry.

A Wall Street Journal article suggests that argument might not be valid. A WSJ survey of economists found the majority of them attribute the food crisis to supply and demand issues - increased demand in China and India, for example, and constrained supply - and not to speculation in the market.

While President Bush continues to promote the benefits of ethanol, some still blame biofuel crops in part for the food crisis. The AFP reports there is a biofuels backlash taking place now as lawmakers and experts debate the merits of converting food to fuel. The article says some Republicans are no longer supporting the growth of corn for food, and one, Senator Kay Bailey Hutchison, called on Congress to undo "America's ethanol mistake."

No matter where you live, you're facing higher grocery bills. A Reuters article offers tips to save when shopping. Cutting coupons might be an obvious one, but some other helpful tips include using meat for flavor instead of the main meal, and spending your dollars on more filling, nutritious items. Families might consider buying in bulk (no more of those individually packaged snacks) and even growing their own vegetables.

COMMENTS ()