Expensive Food Leads to Panic

A recent Washington Post article highlights the dramatic increase in the price of rice and other agricultural products around the world, which has sparked food riots and hoarding in some countries. The article attributes the spike in grain prices to many factors, including the growing world population, drought, disease, and the increased use of crops for biofuels. Some governments have responded by providing food subsidies, instituting price freezes, or limiting grain exports. Washington Post columnist David Ignatius wrote an op-ed reflecting on the effects of the rising cost of rice and the larger trend of global inflation in food and commodity markets. These soaring prices have serious implications for resource management and the world economy. To read the op-ed, click here.