“A surge in rice prices to the highest level in almost 15 years is renewing fears that food costs are going to get a lot more expensive for the world’s poorest people,” writes Bloomberg (reposted by Yahoo Finance).
“Higher rice prices will contribute to food inflation, particularly for poor households in the major rice consuming nations of Asia,” according to Joseph Glauber, a senior fellow at the International Food Policy Research Institute in Washington. “Countries often follow suit when one country imposes export bans. The world’s poor are the biggest losers.”
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