According to a UN report, world food prices have hit the highest level on record in January. It is said to be the highest level the index has reached since 1990. Though this price hike has affected many countries, the report depicts Somalia and Uganda as some of the hardest hit countries. The ongoing unrest in Ivory Coast, which is a key transport hub, has critically increased. A serious price rise also engulfed Asia, where a surge in prices occurred due to crop failure. The problem is set to worsen after a massive snowstorm in the US, floods in Australia and rising unrest in the Middle Eastern countries.
What needs to be done is that the governments must avoid repeating the mistakes of the past. In reaction to the spiralling prices, they should resist the banning of exports and hoarding of food. Big companies should adjust to higher raw material costs. Rising food prices have been cited among the driving forces behind the recent popular revolts in North Africa, including the uprising in Egypt and ousting of Tunisia’s long-time President Ali. Thus, we need a better plan of action.
Published in:
Daily Times:
http://www.dailytimes.com.pk/default.asp?page=2011%5C02%5C10%5Cstory_10-2-2011_pg3_7
