12 Jan '11, 8am

Asia frets over food price hikes

NEW DELHI: Soaring food prices in Asia are deepening concern among governments fearful of a repeat of the 2008 food crisis that triggered riots across the region and beyond. A global alarm bell was sounded last week when the UN's Food and Agriculture Organisation warned that millions of people were at risk after its world food price index broke through the peak 2008 levels to hit a record high. The warning was swiftly echoed by World Bank president Robert Zoellick who said rising prices were "re-emerging as a threat to global growth and social stability". In Asia, the inflationary upswing is causing serious jitters in the region's three most populous countries, China, India and Indonesia -- seen as especially vulnerable to a further surge in the price of staples such as rice and wheat. In India, Prime Minister Manmohan Singh called in his top cabinet ministers Tuesday to d...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific/vi...

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