World Bank reports that global food prices rose 83% over the last three
years (2005-2008) and the FAO cites a 45% increase in their world food price index
during just the past nine months. The Economist’s comparable index
stands at its highest point since it was originally formulated in 1845.
As of March 2008, average world wheat prices were 130% above their
level a year earlier, soy prices were 87% higher, rice had climbed 74%,
and maize was up 31%.