G8 summit to discuss food price rises
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22/04/2008
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Financial Times (London)
Record global food prices will be on the agenda of the Group of Eight heads of state summit in July for the first time in almost 30 years, amid mounting concerns about the social, political and economic impact of the food crisis. The International Monetary Fund on Monday gave its starkest warning about the impact of rising commodities, saying food and oil prices "risk becoming a destabilising force in the global economy'. Yasuo Fukuda, Japan's prime minister, said in a letter to his G8 colleagues that soaring food prices were posing "imminent and serious' global challenges. "Threat of hunger and malnutrition is increasing, and the high prices have also brought about social unrest,' he said. Mr Fukuda's missive came after Gordon Brown, UK prime minister, urged his Japanese counterpart in a letter to put the food crisis on the G8 agenda. Japan is chairing this year's summit, to be held in Hokkaido. The elevation of the food crisis to the world's richest countries' summit agenda comes as the price for staples such as rice and corn surges to record highs, triggering riots in countries such as Cameroon and Bangladesh. In Haiti, the government fell this month after a rise in rice prices triggered food riots. The price of rice has jumped to a record $1,000 (