The present situation is different from that of 2007-2008, although recent climatic events may significantly reduce agricultural production next season. Must history always repeat itself? We are indeed on the verge of what could turn out to be another major food crisis. The FAO Food Price Index at the end of 2010 returned to its highest level. Drought in Russia and the export restrictions adopted by the government, together with...

Fast-growing emerging nations are taking increasingly aggressive actions to beat back rising food prices as they grow more worried of threats to stability if prices don't start to retreat. Developing-market governments have unveiled a laundry list of measures—including price caps, export bans and rules to counter commodity speculation—to keep food costs from disrupting their economies as price spikes that some had hoped were temporary have stretched into the new year. Some...

In India, people are upset about onions. Expensive cooking oil is causing hoarding in China, a practice banned by the government. Meanwhile, flour and bread are the main source of riots in Algeria and now Jordan. Worries over food prices are gathering pace and triggering alarm among politicians across the world. For there is nothing more likely to bring down a government than ignoring starving citizens, as Marie Antoinette found to...

International prices of most agricultural commodities are on the rise again. Prices of major food crops have increased disconcertingly, with wheat, rice, maize and soybean registering double-digit increases between June and October. Wheat prices increased alarmingly by more than 71%, while maize recorded a more than 50% spike. The Food Price Index released by the Food and Agriculture Organization (FAO), the most widely accepted barometer for food prices, also painted...

Asian governments, battling soaring food inflation, are pumping ever more resources into agriculture but will struggle to offset rapidly expanding demand in top consumers China and India. China, stung by consumer prices running at a 25-month peak, has been selling state stockpiles. It has also ordered banks to urgently offer support to farmers, an example of the sort of firepower these governments can deploy. With China and India also in many cases...