Syndicate content

food prices

Should We Still Worry About Food Prices?

Otaviano Canuto's picture

Food prices are finally coming down after a year of spikes and high volatility. But we must remain vigilant. Prices of certain foods remain very high, and millions of people around the world are still at risk of suffering from malnutrition and hunger.

Let’s get to the numbers first.

Food Prices, Financial Crisis and Droughts

Otaviano Canuto's picture

water and foodGlobal food prices remain high and volatile, affecting the poorest countries the most. Global prices might not be at their 2008 record high, but they are still well above their levels a year ago. For millions who are already vulnerable, events like the droughts in the Horn of Africa add to their hardships while continued market turmoil increases uncertainty in the global economy.

Food Prices and the 7 Billionth Baby

Otaviano Canuto's picture

Photo: World BankTurmoil is not solely circumscribed to Wall Street and stock markets around the world. Volatility is also affecting global food prices, and with them, millions of people in developing countries. So, just as the world marks the birth of the 7 billionth baby this week, his or her family might be struggling to put food on the table.

The Food Price Threat to Poor Continues

Otaviano Canuto's picture

Groundbreaking events are adding to the list of things pushing up food prices. Erratic weather in key grain exporting countries, the increasing crop use for biofuel production, export restrictions, and low global stocks, have been key contributors to the spike. Now, it is also linked to surging fuel prices connected to events in the Middle East and North Africa.

The Poor Are Paying the Price of the Food Cost Spike

Otaviano Canuto's picture

2008 is so last decade. And yet, the recent hike in food prices is bringing food costs near the dangerous levels of that year, creating enormous vulnerabilities in developing countries.