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Egyptians are living through the worst food crisis in a generation, caught in a storm of stagnant wages, rising global food prices, rampant corruption, and a quickly advancing inflation rate that hit 16.4 percent in May. The price of basic commodities like bread, wheat, rice, and cooking oil has doubled since this time last year – prompting bread riots.
The riots are why Egyptian President Hosni Mubarak was a featured speaker among 40 government leaders at the three-day UN food summit that concluded Thursday in Rome. Mr. Mubarak called for an end to subsidies for biofuels because they are creating a “hazardous distortion to the present system of agricultural trade.” More
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