BUSINESS
06/12/2008 05:12 am ET | Updated May 25, 2011

$30 Billion A Year To Solve Global Food Crisis, UN Says

Resolving the global food crisis could cost as much as $30 billion a year and wealthier nations are doing little to help the developing world face the problem, United Nations officials said Tuesday.

At a UN food summit attended by dozens of world leaders, Jacques Diouf, head of the UN Food and Agriculture Organization, opened the meeting by sharply criticizing wealthy nations who he said were cutting back on agriculture programs for the world's poor and ignoring deforestation -- while spending billions on carbon markets, subsidies for farmers and biofuel production.

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