Global food prices have been rising significantly in recent months and this has led to food riots in a number of countries, rationing being reintroduced in Pakistan and price controls being introduced in Russia. What has caused these rapidly rising prices and to what extent will they slow the rate of economic development in the Third World?
UK farmers forced to ride income rollercoaster Guardian (26/2/08)
They’re going to need a lot more money to meet the same needs Guardian podcast (26/2/08)
Feed the world? We are fighting a losing battle, UN admits Guardian (26/2/08)
Record rise in fuel prices fuels inflation Guardian (12/2/08)
India’s farmers struggling to keep food on the table Times Online (29/2/08)
Questions
| 1. | Using supply and demand diagrams as appropriate, illustrate the changes taking place recently in world food markets. |
| 2. | Assess the main factors affecting the level of farmers’ incomes in the UK . |
| 3. | Analyse the likely impact of rising world food prices on the rate of economic development in Third World countries. |