Yes, it is a factor, but there are many others, such as China's very rapid development. People are eating more meat: as a result, more grain is needed to feed the animals. Also, rising oil prices have meant an increase in transportation costs. There are a number of factors at play.
But people had predicted these problems. Ten or fifteen years ago, they said that a growing population, the loss of fertile agricultural land and global development would cause problems.
I guess I'm trying to avoid directly answering your question.