High food prices are the biggest threat to the poor, says the World Bank, the food shortage reaches levels close to those of 2008, adds
WASHINGTON, April. 14, 2011 .- The president of the World Bank (WB), Robert Zoellick, warned on Thursday that 44 million people have fallen into poverty since June 2010 due to a 36 percent increase in food prices in the last year.
The agency noted in its report "Food Price Monitor" reported today that high food prices is partly due to the escalation of fuel in the wake of recent unrest in the Middle East and North Africa.
The report published in the framework of the joint spring meeting of the World Bank and International Monetary Fund (IMF) said that oil prices have risen 21 percent in the first quarter of this year by the instability in the Middle East.
"High and volatile food prices are the biggest threat to the poor," Zoellick told a news conference, noting that prices are near 2008 levels, when food shortages led to riots in many countries poor.
The head of the WB said that the mix of food more expensive with the rise of fuel is "a toxic brew that contributes to social instability."
"The food prices were not the reason for the crisis in the Middle East and North Africa but were an aggravating factor," said Zoellick.
He referred in this connection that the report released today shows that in countries like Egypt and Syria inflation in food prices is more than 10%.
According to the agency, a 10% increase in global prices could make another 10 million people fall below the extreme poverty line, which are those who live on incomes of less than $ 1.25 a day .
The World Bank estimates there are about 1,200 million people worldwide below the poverty line.
Among the foods that are corn have risen, up from 74% last year, wheat, prices increased by 69%, soybeans, which is 36% more expensive and sugar, 21% .
Zoellick held today that France, which holds the rotating chair of G20, has become a "priority" the issue of food.
The World Bank indicated that, in addition, the riots in the Middle East, prices were also buoyed by adverse weather effects in major grain exporters, export restrictions, the increased use of biofuels and low global food stocks.
The "Food Price Monitor" warns that the poorest countries have experienced higher inflation in food prices that more advanced economies.
In Kyrgyzstan, where 10 percent of the poorest people spend 73 percent of its budget on food, inflation in food prices was 27 percent in 2010.
The agency noted that the measures could be implemented to reduce the impact of high food prices are nutrition programs for the poor and the elimination of export restrictions.
Among the suggestions of the World Bank is also to improve the country's ability to manage price volatility through financial instruments, improving weather prediction, more investment in agriculture and the use of new technologies to fortify the rice and make it more nutritious.
Zoellick said that another area where you can put more emphasis is agricultural research by developing more resistant seeds.
"Time is on our side," said Zoellick, who recalled that there are nearly 1,000 million people suffer from malnutrition in the world and the number is growing at a rate of 68 persons per minute.
"That's more than one person per second," he said Zoellick.
WASHINGTON, April. 14, 2011 .- The president of the World Bank (WB), Robert Zoellick, warned on Thursday that 44 million people have fallen into poverty since June 2010 due to a 36 percent increase in food prices in the last year.
The agency noted in its report "Food Price Monitor" reported today that high food prices is partly due to the escalation of fuel in the wake of recent unrest in the Middle East and North Africa.
The report published in the framework of the joint spring meeting of the World Bank and International Monetary Fund (IMF) said that oil prices have risen 21 percent in the first quarter of this year by the instability in the Middle East.
"High and volatile food prices are the biggest threat to the poor," Zoellick told a news conference, noting that prices are near 2008 levels, when food shortages led to riots in many countries poor.
The head of the WB said that the mix of food more expensive with the rise of fuel is "a toxic brew that contributes to social instability."
"The food prices were not the reason for the crisis in the Middle East and North Africa but were an aggravating factor," said Zoellick.
He referred in this connection that the report released today shows that in countries like Egypt and Syria inflation in food prices is more than 10%.
According to the agency, a 10% increase in global prices could make another 10 million people fall below the extreme poverty line, which are those who live on incomes of less than $ 1.25 a day .
The World Bank estimates there are about 1,200 million people worldwide below the poverty line.
Among the foods that are corn have risen, up from 74% last year, wheat, prices increased by 69%, soybeans, which is 36% more expensive and sugar, 21% .
Zoellick held today that France, which holds the rotating chair of G20, has become a "priority" the issue of food.
The World Bank indicated that, in addition, the riots in the Middle East, prices were also buoyed by adverse weather effects in major grain exporters, export restrictions, the increased use of biofuels and low global food stocks.
The "Food Price Monitor" warns that the poorest countries have experienced higher inflation in food prices that more advanced economies.
In Kyrgyzstan, where 10 percent of the poorest people spend 73 percent of its budget on food, inflation in food prices was 27 percent in 2010.
The agency noted that the measures could be implemented to reduce the impact of high food prices are nutrition programs for the poor and the elimination of export restrictions.
Among the suggestions of the World Bank is also to improve the country's ability to manage price volatility through financial instruments, improving weather prediction, more investment in agriculture and the use of new technologies to fortify the rice and make it more nutritious.
Zoellick said that another area where you can put more emphasis is agricultural research by developing more resistant seeds.
"Time is on our side," said Zoellick, who recalled that there are nearly 1,000 million people suffer from malnutrition in the world and the number is growing at a rate of 68 persons per minute.
"That's more than one person per second," he said Zoellick.
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