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Weak harvest raises world grain prices
CHRISTOPHER R BLAKE ASST NEWS EDITOR CRB724@CABRINI EDU
Driven by rising demand and stagnant supply, world grain prices are skyrocketing to levels not seen since the 1970s. Since 2005, food prices have climbed 80 percent, an ascent produced by an unhappy coincidence of events: a weak harvest in the United States and Europe, soaring oil prices in Argentina and Ukraine, and a fiscal crisis that has led investors to move funds out of mortgages and into grain futures. The dietary deficit has sparked “food-related violence” in at least 14 nations, including riots in Haiti that led to the resignation of the country’s Prime Minister.
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