1) Food prices have skyrocketed globally due to extreme weather conditions, increased financial speculation on food commodities, and higher demand for biofuels. 2) This is resulting in over 1 billion people being undernourished by the end of 2011 and poses serious economic and political risks. 3) Sustained high food prices threaten global food security, economic growth, and social stability unless governments promote agricultural productivity and curb financial speculation in food markets.