The World Food Program is warning it will need to cut services unless donors can cover a 40 percent rise in operational costs. The price of rice has hit record highs in Asia at $1,000 a ton, nearly triple over the start of the year. Here in the US, two major food chains stoked panic this week when they announced they would ration rice sales at their supermarkets. On Thursday, Treasury Secretary Henry Paulson downplayed worries of a domestic food shortage.

Treasury Secretary Henry Paulson: “In the US, I don’t see food shortages. We have plenty of food in the US. The price of food has gone up, but again that won’t be as significant for the average American as the price of gasoline. But in the world, it is a significant issue, and the United States is focused on getting food to those who need it the most and getting it there quickly, emergency food relief. And we provide about half of that for the world.”