Africa/Global: Free trade leaves world food in grip of global giants

Global food companies are aggravating poverty in developing countries by dominating markets, buying up seed firms and forcing down prices for staple goods including tea, coffee, milk, bananas and wheat, according to a new report. As 50,000 people marched through Porto Alegre, in southern Brazil, to mark the opening of the annual World Social Forum on developing country issues, the report from ActionAid was set to highlight how power in the world food industry has become concentrated in a few hands. The report will say that 30 companies now account for a third of the world's processed food; five companies control 75% of the international grain trade; and six companies manage 75% of the global pesticide market.