The head of the World Food Program warns the global food crisis is a storm and that the world is now "in the eye of that storm."

Josette Sheeran (r) listens during a hearing on Capitol Hill in Washington, DC, 14 May 2008

WFP Executive Director Josette Sheeran told U.S. lawmakers Wednesday the food crisis is the world's most important security issue, and that agriculture is "groaning under the strain" of skyrocketing demand.

During the hearing, U.S. Senator Richard Lugar said food shortages will persist unless countries, including the United States, remove barriers to trade and end subsidies for farmers.

Meanwhile, the price of grade B white rice from Thailand, considered a worldwide benchmark, rose to near record heights Wednesday, at more than $1,000 per metric ton.

Rice prices soared 76 percent between December 2007 and April of this year.

Rising food prices are also fueling calls to end export bans on key commodities.

The president of the African Development Bank, Donald Kaberuka, says export bans interfere with the food supply and make the situation worse.

One of U.S. President George W. Bush's key economic advisors, Edward Lazear, told U.S. lawmakers export bans prevent food from getting to the people who need it the most, and will eventually hurt the economies of the countries that use them.

Lazear also disputed claims by the International Monetary Fund that growing biofuel production in the United States is a key reason food prices are rising. He said biofuel production may raise corn prices, but has only minimal impact on overall food costs.

Two of the world's biggest chemical companies, U.S.-based DuPont and Denmark's Danisco, announced Wednesday they will invest $140 million to produce biofuels from non-food plant materials.

Some information for this report was provided by AFP, and Reuters.