"Veggies rose 22% in July from a year earlier, prompting Beijing to call for cities to set aside land to plant more vegetables and for banks to step up lending to vegetable farms. It isn't just the greens either. Grain prices jumped nearly 12%, and eggs almost 8%."
Further,
"But Asian households spend a large proportion of their incomes on food—as much as half of household budgets in places like Indonesia and the Philippines, and over one-third in China and India. Any jump in food prices hits people hard. Rising prices are also passed through the broader economy, as workers demand higher wages and the budgets of governments that subsidize food prices are affected."
I think there is great justification to begin a Global Agricultural Initiative at MIT, comparable to the energy and environmental initiatives.
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