Japan warns rising food prices could lead to unrest in Asia

0 Comments | AFP, May, 2008

MADRID (AFP) — Soaring prices for food staples, especially for rice which have tripled over the past year, could lead to social unrest in Asia, Japanese Finance Minister Fukushiro Nukaga warned Sunday in Spain.

"The recent hike in the price of rice will hit Asian countries particularly hard. The ones who are most affected are the poorest segment of the population including the urban poor," he said at a meeting of the Asian Development Bank.

"It will have a negative impact on the living standards and also affect their nutrition. Such a situation may lead to social untrust and unrest and therefore safety nets addressing the immediate needs of the poorest are needed," he added.

Prices for the benchmark Thai variety of rice, a food stable across much of Asia,...