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BRUSSELS (Reuters) - The food price crisis is caused largely by greed and speculation rather than food shortages, the head of Southern Africa's development bank said on Tuesday.
Spiraling food costs -- called a "silent tsunami" by the World Food Program -- have ignited fury and a rash of protests from Haiti to Somalia to Bangladesh. Exporting countries have curbed shipments to ensure domestic supplies and tame inflation.
"These increases in food prices are not the consequence of food shortages, it's the consequence of human greed that is putting at risk the lives of millions of men, women and children," Jay Naidoo told Reuters.
"There are companies that are making super profits on this issue."