Arab Today, arab today world food prices up 10
Last Updated : GMT 14:26:27
Arab Today, arab today
Arab Today, arab today

World food prices up 10%

Arab Today, arab today

Arab Today, arab today World food prices up 10%

Washington - AFP

The World Bank said Thursday that drought in the US and Eastern Europe crop centers sent global food prices soaring by 10 percent last month, raising a food security threat to the world’s poorest people. The surge in prices, mainly due to the devastating heat wave across the central US, which produces the world’s largest crops of corn (maize) and soybeans, places in danger millions around the world, especially in countries dependent on imported grains, according to the bank. From June to July, the prices of both corn and wheat jumped by 25 percent while soybeans were up 17 percent. Corn and soybean prices topped their previous record highs in the food price crisis of June 2008. The other key global staple, rice, was four percent lower, however. That left the World Bank’s food price index six percent higher than a year earlier and one percent higher than the February 2011 peak. “Food prices rose again sharply threatening the health and well-being of millions of people,” World Bank President Jim Yong Kim said in a statement. “Africa and the Middle East are particularly vulnerable, but so are people in other countries where the prices of grains have gone up abruptly.” The World Bank called countries in the Middle East and North and Sub-Saharan Africa the “most vulnerable to this global shock.” “They have large food import bills, their food consumption is a large share of average household spending, and they have limited fiscal space and comparatively weaker protective mechanisms,” the Bank said in its Food Price Watch report. “Domestic food prices in these regions have also experienced sharp increases even before the global shock due to seasonal trends, poor past harvests, and conflict,” it said. The World Bank said that the diversion of corn to produce ethanol biofuel — which takes up to 40 percent of US corn production — is a key factor in the sharp rise in the corn price. The UN Food and Agricultural Organization’s chief called earlier this month on Washington to rescind its mandate for fuel producers to use ethanol in gasoline and other fuel products, to ease the pressure on corn prices. The World Bank pointed out that there is also a spillover effect on wheat prices: that as corn supplies tighten, wheat becomes used more as a substitute for corn in livestock feed. Reacting to the report, Oxfam spokesperson Colin Roche criticized the lack of action from the Group of 20 leading economies to address the soaring food prices. “Oxfam is already seeing the devastating impact of food price volatility in developing countries that rely on food imports,” he said. “The G20 has decided to wait for September’s US crop report before deciding whether to take action on food prices, but they must call it now before prices spiral out of control and push more people into hunger.”

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world food prices up 10 Arab Today, arab today world food prices up 10

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world food prices up 10 Arab Today, arab today world food prices up 10

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday