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Speculation on hunger

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What?

What is happening? A company called Glencore, the world's largest commodities trader, is planning a US$11 billion stock sale on the London and Hong Kong stock exchanges. Critics say some of the company's actions are behind rising food prices.

Who?

Who is Glencore? The firm is an energy, metals and food producer and marketer. It is worth US$60 billion. Although most of its money comes from mining, Glencore controls 10 per cent of the world's wheat production and almost a quarter of the barley, rapeseed and sunflower market.

How?

How does it affect world food markets? Last year, a drought severely affected Russia's wheat output. A Glencore official publicly urged the Russian government to ban wheat exports, The Guardian said. The government did. (It is impossible to prove whether Glencore's advice was factored into the government's decision.) The surge in wheat prices caused food riots in other countries and pushed tens of thousands of people towards hunger.

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