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Article

30 Mar 2009

Author:
International Trade Union Confederation

New ITUC Report: Global Food Crisis Set to Worsen

A new report released by the International Trade Union Confederation predicts a worsening of the already serious global food crisis…The report, “A Recipe for Hunger, How the World is Failing on Food”, targets financial speculation and massive profit-taking by a few multinational companies as the major causes…Another major factor, as governments and companies seek alternatives to fossil fuels, is the increase in production of biofuels at the expense of food production…Speculation on food prices has led to huge profits for a small number of extremely powerful global commodity trading companies at the expense of the poorest countries.