Not just a problem but an opportunity

Besides the aforementioned factors, natural disasters and the growing world population, coupled with market speculations and rice hoarding, have all contributed to the food crisis.

The era of cheap food is over. A new equilibrium will be established, but through a painful process.

Last week, U.N. Secretary-General Ban Ki-moon said: "We have gone from an era of plentitude to one of scarcity. Experts agree that food prices are not likely to return to the levels the world has grown accustomed to any time soon."

Also, Robert Zoellick of the World Bank warned that the run-up in global food prices could mean "seven lost years" in the U.N.'s work on the Millennium Development Goals.

But the world should not take only a pessimistic view of the future.

"We should consider this as not only a problem but as an opportunity. It is a huge chance to address the root problems of many of the world's poorest people, 70 percent of whom live as small farmers," said Secretary-General Ban.

"Ultimately, our task is to ensure that the virtuous cycle goeson and its benefits extend as broadly as possible -- most especially to those who have so far missed out. More trade, not less, will get us out of the hole we're in," he said.

(Xinhua News Agency May 7, 2008)