Greed behind food price rises: development bank head
Read the rest of the Reuters story here by clicking the link above.
“As you are all aware, the overall outcome would be less distortion in world markets and increased international trade, leading to more rapid and efficient adjustment by supply to changes in demand,” he said.
That is the insider language for greed distorting the market. When investors seculate on markets for gain they knowingly or unknowingly take food out of the mouth of the hungry. I am not blaming anyone here, but I think a child can see the injustice of this kind of system.
More countries are taking themselves off the system by banning exports. Ultimately, if this continues the WTO will have fewer and fewer countries participating in their global markets scheme.
Quote: Many countries have responded to the high prices by imposing taxes and other restrictions on exports — allowed under WTO rules — to try to ensure adequate supplies at home.
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