As the world’s food prices hit a record high in January, driven by the price increases in wheat, corn, sugar and oil; Egypt’s protestors demanded and succeeded in the resignation of Hosni Mubarak’s 30-year rule.
The food inflation that exceeded the price spike of 2008, pushed millions further into poverty as Egyptians have historically spent over 40% of their income just on food. According to the UN, grain in particular, is more expensive than ever, with corn prices up 53% in 2010, wheat up 47% and rice now at its highest level in more than 2 years.
Various factors are being blamed and economists are citing a combination of influences. Unusual weather events are stated as a key contributor, namely the sweltering heat wave that struck Russia in 2010, the world’s largest wheat supplier, causing the Russian government to halt grain exports for the year, shooting up the price of bread in Tunisia and Egypt.
One thing is certain, as political unrest spreads to North Africa, protestors showed the debilitating effect of high food prices on a society. The struggle for basic food however, reaches far beyond Egyptian borders, nearly 1 billion people world-wide suffer from hunger. Untamed weather in other parts of the world contributed to global food shortages, heavy rains in Australia damaged wheat crops, flooding in Pakistan damaged grain crops and drought is currently threatening wheat crop in parts of China. According to NOAA (National Oceanic and Atmospheric Administration), 2010 tied 2005 with the hottest year on record and 2010 was also the wettest year on record, undeniably contributing to world-wide food shortages.
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