Recent Current Events Could Signal Food Price Volatility
CNN: Are more food protests around the corner?
Evan Fraser, Canada Research Chair in Global Food Security at the University of Guelph
“This week’s headlines may have been dominated by the search for the missing Malaysia Airlines passenger plane, but three seemingly unrelated stories that have developed over the past week might have much broader and long lasting implications for the international community…” The drought affecting parts of the Middle East, the conflict in Ukraine, and an increase in global food prices “are already combining to spook commodity markets. On March 3, wheat futures jumped 4.6 percent, their biggest one-day gain in almost 2 years, a rise some commentator are already linking with rising prices for food in Europe. With this in mind, it’s easy to see how 2014 could herald a return to the kind of food price volatility and associated political and economic turmoil the world witnessed in 2008 and 2011…” (3/13).