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Food prices rise on India's late monsoon and US drought

17 July 2012 Last updated at 03:05 BST

Is the world heading for another crisis in food prices? There are some reasons for concern, as monsoon rains have come late and light in India, while the US is seeing its worst drought in 25 years.

That has hurt production, with corn and wheat prices up by more than 40% over the past month while soya bean prices have jumped by almost 20%. The BBC's Yogita Limaye in Mumbai and Saranjit Leyl in Singapore report on what this means for consumers around the region.