In a free market, the increased demand would lead to more of a commodity being produced as suppliers competed to meet the demand.
Hunger in the modern world is the result of the political decisions made in the areas where it is a problem. It is not a supply/demand problem and it has no relation to the waste of food in prosperous societies--that is just silly.
But it will be more produced at a greater price as less efficient croplands or methods are brought into use.
What are your thoughts on contraception?