Not so long ago, things were looking good. The UN’s Food and Agriculture Organization (FAO) had announced on the 5th of July that the FAO food price index had been falling for the third consecutive month and that in May of this year the index had been at its lowest since September 2010. But the optimism may be short-lived.
The adverse weather of continuing drought in the USA and in particular in most of the major corn-growing regions, is bringing volatility back on international food prices, an untenable situation for world food security and in particular for developing or emerging economies.
