Governments stockpile food staples

Governments stockpile food staples By Javier Blas in London and Chris Giles in Davos 
Published: January 27 2011 18:58 | Last updated: January 27 2011 18:58

Governments across the developing world are stockpiling food staples in an attempt to contain panic buying, inflation and social unrest.

But the hoarding is driving agricultural commodity prices even higher. The cost of wheat, the world’s most important staple, reached a fresh two-and-a-half-year high on Thursday, after countries from Algeria to Saudi Arabia announced extraordinary purchases.

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