World shows prudence as drought boosts food prices: USDA

Posted by Washington Post: Juliet Eilperin on September 17th, 2012
Reuters: World leaders have shown prudence in the face of rising food prices by avoiding harmful steps such as export embargoes, the United States said on Monday after France called an emergency meeting of G20 farm ministers. Scorching drought in the United States, the world's largest farm exporter, and in the wheat-exporting Black Sea region of Europe has driven commodity prices to record levels this summer. It was the third price surge since 2007. High prices pushed tens of millions of people into hunger......

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