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Record Food Prices Causing Africa Riots Stoking U.S
Posted by Bloomberg: Alan Bjerga and Tony Dreibus on January 19th, 2011
Bloomberg: The same record food prices causing riots in Algeria and export bans in India are allowing President Barack Obama to combine the biggest-ever U.S. farm exports with the tamest inflation since the 1960s.
Global food costs jumped 25 percent last year to an all- time high in December, according to the United Nations. Countries probably spent at least $1 trillion on imports, with the poorest paying as much as 20 percent more than in 2009, the UN says. In the U.S., the largest exporter, retail food...
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