I was reminded of that throw away line, while I was thinking about the possibilities of famine in Asia and Africa. Well, more of it - famine.
Maybe we/I am too far away from what is happening to the main consumers of food and what they are doing in the face of rising food prices. ie as it takes more/all of their income. What they are doing is reducing their demand on the food chain. In the sense they are moving down it. As they move to rice only, they are not buying vegetables or fish or meat. It looks like a return to the staples, grains, sugar,oils. Some govts will/continue to subsidise. These govts will become poorer. If they force the prices down, like Argentina, then then misallocation of resources will follow.
