GLOBAL FOOD PRICES ARE RISING

       The world Bank has given a stark warning of the impact of the rising cost of food, saying an estimated 44 million people had been pushed in to poverty since the middle of last year by soaring commodity prices.
     World Bank president Robert Zoellick,said food prices had risen by almost 30 percent in the past year and were with in striking distance of the record levels reached during 2008. Global food prices are rising to dangerous levels and threatens tens of millions of poor around the world. Price hike is already pushing millions of people in to poverty, and putting stress on the most vulnerable,who spend more than half of their income on food price index was up by 15 percent between October 2010 and January 2011,is 29 percent above its level a year earlier, and only three percent below its 2008 peak. Wheat prices has been the most pronounced increases, doubling between June last year and January 2011. Expanding nutritional and safety net programmes in counties where food prices are rising fastest, avoiding food export restrictions,and finding better information on food stocks.More investments in agriculture, the development of less food intensive bio fuels and climate change adaption are also needed. The world Bank boosting its spending on agriculture to $6bn-8bn a year from 9,4 bn in 2008.

Prof.John Kurakar