LONDON/ACCRA/KARACHI (Oct 16): Food importers from Africa to Asia are scrambling for dollars to pay their bills as a surge in the US currency drives prices even higher for countries already facing a historic global food crisis. They cannot pay for these commodities," said Alex Sanfeliu, world trading head for crop giant Cargill Inc. "It's happening in many parts of the world." The International Monetary Fund (IMF) has warned of a catastrophe at least as severe as the food emergency in 2007-08, US Treasury Secretary Janet Yellen last week called for more food aid for the most vulnerable, while the World Food Programme said the globe is facing its largest food crisis in modern history. But the soaring dollar threatens to erode some of that benefit, according to Monika Tothova, an economist at the United Nations' Food and Agriculture Organization, which sees this year's global food import bill at a record high. Weather shocks have driven volatility in recent months, stocks are low and soaring fertiliser and energy prices are boosting food production costs.
