Global food prices have leaped by 10% in the month of July, raising fears of soaring prices for the planet’s poorest, the World Bank has warned. The Drought in the U.S. and Eastern Europe are partly to blame for the rising costs; however, you can be sure the collapsing worldwide financial system is definitely a part of this.
The price of corn, wheat, and soybeans have seen dramatic increases and those countries importing grains will be particularly vulnerable to the repercussions of the elevated food prices.
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