Export bans could spark global food crisis, UN agency warns

The world could face a food crisis of the kind seen in 2007/08 if countries resort to export bans, the UN’s food agency has warned, after reporting a surge in global food prices due to a drought-fuelled grain price rally.

The high cost of oil, growing use of biofuels, bad weather, restrictive export policies, and soaring grain futures markets pushed up prices of food in 2007/08, sparking violent protests in countries including Egypt, Cameroon, and Haiti.

Concern about extreme hot and dry weather in the US mid-west sent corn and soybean prices to record highs last month, driving overall food prices higher again and reversing the Food and Agriculture Organisation’s expectations for steady declines this year.