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Corn is key ingredient in rising food prices - OECD chief

Thursday, August 16, 2012 - 02:00

Aug. 16 - OECD Secretary-General José Ángel Gurría says abuses in the corn distribution chain are to blame for rising food prices and a spiralling hunger crisis.

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Rice practically stable no problems with the rights in terms of overall supply in I would say week to. Actually having a bumper crop. In some countries and having the scarcity some problems. Having to do with a climate in other countries for example in Russian cossacks on. And in Ukraine. We do not we have a problem of overall supply except with corn. And that's a very localized. Problem but it's a very important part of the change. Because of course it has it implications about -- And about poultry and about port and about beef. Except for every time because of the distribution system because of abuses. Or or or simply because you know people become the excuse that there's a problem. With the corn and therefore they Jack up the prices of eggs thinks like that which is happening in and as we speak. Then that is producing pressures on prices while the world but also it is producing hungry people. More people are going to bed hungry because. They cannot make ends meet they cannot buy enough food as a used to yesterday or the month the goal before these prices went up so the issue has to be addressed. The question is not to force will not to overreact and second to measure the reaction. To -- where it needs to be addressed. And you know if there is a very bad. In a very important producer countries there are bound to be increases in prices in general game. But also. Can we improve. The question of trade bite you know of compensating. Whether scarcity that are being created that could now be compensated with. That's the bumper crop that are appearing in some others are is air substitution for the difference cereals. When you're talking about human consumption.

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Corn is key ingredient in rising food prices - OECD chief

Thursday, August 16, 2012 - 02:00