There is still too much hunger. Food prices for many are determined by the market. Yet any farmer will tell you that the more we produce the less the price of the product. Look in the Financial Times any day to read "Frost hits coffee, prices up" "Good harvest of wheat means lower prices". The way to deal with this has been to control the market mechanism by imposing quotas and providing subsidies. Only the two major developed blocks - the US and EU can afford to do this. GM will help maintain controls (of crop production), it does not aim to increase production. The result is that the rest of the world suffers hunger resulting from the distorted market. The answer is not to go back to a free market, but base production on agreed sustainable goals.
Additional resources:
Genetically Engineered Crops, 2003* Ellen Hickey and Anuradha Mittal
(editors). Systematically refutes six arguments for Genetically Engineered (GE) crops in Third World countries, including the popular belief that GE crops are a solution to world hunger. Incorporates authors from 13 developing countries to argue that the development of GE crops has not focused on feeding people but rather on securing market share for the world's largest agrochemical/biotech companies. 64 pages. Available for free download at Food First
"Playing With Hunger: The Reality Behind the Shipment of GMOs as Food Aid, 2003" Friends of the Earth International (FOEI). Recounts the debate spurred by South African countries' refusal to accept Genetically Modified Organisms (GMOs) as food aid. Discusses the implications of GMO food aid through case studies of genetically modified crops in 9 developing countries. 22 pages.
Available for free download from Friends of the Earth