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The Economist’s comparable index stands at its highest point since it was originally formulated in 1845. As of March 2008, average world wheat prices were 130% above their level a year earlier, soy prices were 87% higher, rice had climbed 74%, and maize was up 31%.
Although their are some specific factors that led to the price hike; their still remain a number of underlying trends that have been taking shape for the last three decades and are fundamental to the current crisis and a future crisis. The protests around the world at the height of the crisis in March and April 2008 were not crazed “riots” by hungry masses...
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