Food Market Bloats Up

Erica Barnett over at Worldchanging.com has an interesting post exploring the latest crisis in the world's food system: affordability.

She takes apart the Economist's investigation of the growing problem, which reports that the world price of wheat rose to $400 a ton (twice the inflation-adjusted average price of wheat over the past 25 years), and that the price of corn has hit a record of $175 a ton (more than 50 percent above the average for the previous year). Why? The Economist points to the growing demand for meat in China and India and increasing demand for corn-based ethanol.

To find out more, check out Barnett's book recommendation -- Mark Winne's "Closing the Food Gap: Resetting the Table in the Land of Plenty" -- and this new report from the U.S. Department of Agriculture. And read the rest of the Economist article for their recommendations on rectifying this issue.

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