F ood supplies across the world have become very tight. With 30 per cent of this year’s US maize crop disappearing into vehicle fuel tanks – aided by a federal biofuel subsidy – farmers there have been rushing to grow maize instead of soyabeans, wheat and other cereals. The result has been soaring prices, which have proved catastrophic for poorer nations.

Piling into commodity futures might yield a profit, but I wouldn’t feel comfortable helping raise prices. What I’d like is to invest in a company that helps increase the supply of cereals to ease the shortages.