Ethiopia Corn Price Soars 61 Percent on East African Drought

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(By Brian Latham) Corn prices have soared 61 percent in the Ethiopian capital, Addis Ababa, from this time last year, the partly U.S.-funded Famine Early Warning Network Systems said.

The price of corn is also 56 percent higher than the five- year average, the organization, known as Fewsnet, said in an e- mailed statement today.

Since Ethiopia’s 2004-2005 farming season the price of 100 kilograms (220 pounds) of corn has climbed from about 140 birr ($8) to about 780 birr, said Fewsnet.

Relief organizations provided food to about 3.2 million out of the targeted 4 million facing shortages, Fewsnet said.

To contact the reporter on this story: Brian Latham in Harare, Zimbabwe at blatham@bloomberg.net.

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