During the past few weeks, the world has witnessed food riots in a number of developing countries, including Haiti, Indonesia, the Philippines, Cameroon, Niger, Senegal, Morocco, Bangladesh, and Egypt, among others. Poor people everywhere are making their discontent and frustration with rising food prices known. In the past two months, rice prices have risen 75 percent to near historical levels. The price of wheat has jumped 120 percent during the past year; soy by 87 percent; and corn by 31 percent. Prices of these key staple crops have been on the rise since 2005, but have escalated in severity since 2007.
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