Firstly, it was the price of the oil barrel which reached US$100. Now, the price of Asia's basic food - Rice is increasing.
These are the reasons why prices are increasing:
1. Bad weather for agriculture and pest outbreak in certain countries.
2. Increased demand for rice in some western countries.
The world demand for rice is increasing rapidly, and the price is skyrocketing as well because rice producers are struggling to meet the demands. It sparked off unrest and protests in Asia. And people in some countries are wiping packets of rice off the shelves of supermarkets.
I'm rather more concerned about people in poorer countries, because increased prices in rice means there's a recipe for famine. Some millions of people live in poverty, and less than $2 a day. How can they afford to feed their family?
The IMF World Bank has warned that the rising prices could lead to hundreds of thousands of people into starvation.
Governments must find a way to stop rising inflation, and must continue to help fight against poverty in the world.
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