Tuesday, February 15, 2011

US frustrated over skyrocketing food prices

The massive protests in Tunisia, Egypt and across the Middle East that toppled two dictatorships in less than a month drew millions into the streets, and they may have started at the kitchen table. Food prices have surpassed 2008 food crisis-levels around the world, and inflationary prices are leading to protests—and contributing to revolutions. Basic staples like corn, wheat, milk and cereal are rising the fastest as the US pushes producers to convert corn crops to ethanol and big Wall Street firms hedge their bets on commodities speculation.

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