Dari Dawn Pakistan 22 April 2008.
Era of cheap food over: ADB SINGAPORE, April 22 (AFP) - The era of cheap food
is over, Rajat Nag, the ADB's managing director general, said Tuesday. A
variety of factors have contributed to soaring food prices which, even if they
ease, will not return to the lower levels which the world became used to. The
ADB last week said soaring food prices have hampered Asia's fight against
poverty and some countries may need foreign aid to feed their hungry millions.
Nag cited a variety of factors for rising food prices. These include escalating
prices of oil and other production costs, conversion of arable land to urban
development and biofuel production, and environmental problems such as drought
in Australia. (Posted @ 10:00 PST)
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