Reuters, Wednesday April 23 2008
By Ayesha Rascoe and Nicole Maestri
WASHINGTON/NEW YORK, April 22 (Reuters) - With global tensions over food supplies mounting, prices of world staples rice and corn surged on Tuesday amid strong demand and concerns over slow planting of the new U.S. corn crop.
Meanwhile, the Asian Development Bank warned Asian countries against export controls, and the Inter-American Development Bank said the food-versus-fuel debate had changed the way it evaluates financing of biofuel projects that could siphon off staples like corn or soybeans.
Even in the United States, the world's breadbasket, a leading retailer reported signs of growing concern about rising food costs and dwindling supplies.
James Sinegal, chief executive officer of Costco Wholesale Corp, a U.S. warehouse club selling food to consumers and businesses, told Reuters on Tuesday the retailer had seen a spike in demand for items like rice and...
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