Food crisis is raging across the globe. Not just the poor, but even middle classes are beginning to feel the pinch. This could prove destabilizing for many governments.
In Cairo, the military is being put to work baking bread as rising food prices threaten to become the spark that ignites wider anger at a repressive government. In Burkina Faso and other parts of sub-Saharan Africa, food riots are breaking out as never before. In reasonably prosperous Malaysia, the ruling coalition was nearly ousted by voters who cited food and fuel price increases as their main concerns.
Its the worst crisis of its kind in more than 30 years, said Jeffrey D. Sachs, the economist and special adviser to the United Nations secretary general, Ban Ki-moon. Its a big deal and its obviously threatening a lot of governments. There are a number of governments on the ropes, and I think theres more political fallout to come.
Experts say there are few quick fixes to a crisis tied to so many factors, from strong demand for food from emerging economies like Chinas to rising oil prices to the diversion of food resources to make biofuels, reports the New York Times.
A British expert was quoted by the Daily Mail as saying, "We are feeling the strain of food and petrol prices rising at their fastest rate since records began.
"It's crunch time for UK households as we face a downturn in the economy, below inflation pay rises and the reality of having less money in our pockets.