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Vol 49 No 9

Published 25th April 2008

Crisis brings opportunity

As Africa is a net grain importer, its people face huge problems from current world food price inflation. African smallholders will suffer if they are net food buyers whereas net food exporters’ profits will rise in tandem with higher global prices. Year-on-year, prices of rice, corn and wheat have risen by 103%, 66% and 108% respectively. Countries around the world, but especially in Asia, have kick-started protection of domestic consumers by implementing export controls, completely banning exports of certain key commodities.

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