The United Nations’ Food and Agriculture Organization reported that world food prices rose 2.2 percent in February to a new record high and could rise further still if drought continues to decimate China’s wheat harvest. The reasons for high prices: drought in Russia and Argentina, floods in Canada and Pakistan, export bans, and panic buying and hoarding. These supply disruptions have led agricultural economists to ask, “If the world can’t properly feed 7 billion people today, how will it feed 9 billion in 2050?” In fact, the FAO estimates food output will have to rise 70 percent by 2050 to keep pace with population growth. 


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