since you asked my opinion...
I don't think there will be a big global food crisis. Supplies are low at the moment because in 2007 many farmers got $ from the govt to use their land for ethanol fuel purposes, and it's been hot this year in many areas, so crops were down.
As a result, the JIT supply chain has been tightened a bit. There are shortages occasionally when that happens, and these are widely publicized (doomsday scenarios sell papers) and as a result, people begin hoarding, which causes the supply chain to fail in a few areas where enough elasticity isn't built in.
People in plentiful areas (USA) mail food to their families in the tough areas. This caused Costco/Sams to limit rice sales when Cali buyers started buying it by the pallet and shipping it to Thailand. DRUDGE reported it on Wed, and by Thurs you had many news orgs asking the Q "is rationing coming?"
The message boards go crazy, and online and real editors realize it's a story, so they put it on their news pages and the hits are high. A few people capitalize on this (Wall Street Journal writer telling people to 'hoard' food for their cupboards- incidentally he helps run Quaker dried foods).
This will correct itself, of course. UN announced it's a problem, and nations are tilling more land so it's solved next year. The real problem, as we all know, is that people in poor, unproductive countries are having too many babies. The world cannot support 10 bil people (without nano technology food, which might solve all of this), and the uneducated idiots in 3rd world nations keep having babies, and keep living longer.
Anyway, bottom line is that a few weak areas of the JIT world food chain were widely publicized and a few people did some 'panic buying', and the global powers are correcting the kinks in the chain by increasing supply.
Note: I don't trouble my brain with thought of race/creed/social groups in my analysis. Supply chains are sexy beyotches, though
