The year 2008 was a perfect storm for hunger in Africa.
Our readers may remember the spikes in food prices around the world, brought on by a combination of drought, rising oil prices, the explosion of investment in biofuels (eating up land otherwise used for food production), falling grain stockpiles and commodity speculation. Rising food prices prompted riots and insurrection around the globe, particularly in Africa.
Spikes in grain prices are regularly blamed on oil shocks, droughts and emerging markets’ hunger for meat. The real culprit in the three bubbles-and-busts of the last five years, however, isn’t the weather. It's financial speculatio... Read Post
As the Horn of Africa struggles to deal with its worst drought in more than half a century, rising food prices are adding to growing hunger in Kenya. Wolfgang Fengler, the World Bank's lead economist for Kenya, describes increasing ... Read Post