China food prices spike as floods ruin farmland

Reuters: Torrential rain across southern and eastern China which has killed more than 100 people and triggered the evacuation of half a million has left large areas of farmland devastated as food prices surge, state media said on Sunday. Weeks of rainstorms in the stricken province of Zhejiang in the Yangtze delta have caused nearly 5 billion yuan ($772 million) of damage, reducing vegetable production by 20 percent and pushing prices in the provincial capital of Hangzhou up by as much as 40 percent, Xinhua......

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