Asia fears rising poverty, social unrest from soaring food prices

0 Comments | AFP, May, 2008

MADRID (AFP) — Soaring food prices could push millions of people in Asia back into poverty and lead to social unrest, regional leaders warned Sunday at the Asian Development Bank's annual meeting 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," Japanese Finance Minister Fukushiro Nukaga said.

"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, are at...