Any Gains from The Food Crisis

Many commentaries state that there's a food crisis out there but I am cautious about the use of the word crisis because of very liberal use for everything today. Prices of cereals have risen rapidly in the last year and this has led to panic. As with the prices of crude petroleum, many forget to make comparisons based on real as opposed to nominal figures and thereby fail to account for inflation.

In my reading, I found that this piece by Paul Krugman explains clearly what are the causes while another NYT piece by Keith Bradsher here shows how farmers in Australia are responding to severe drought in many ways, including the substitution of grapes for rice as the former requires less water and has a higher margin for volume.