prices

World Bank says food prices are at dangerously high levels

Thursday, March 17, 2011 by: David Gutierrez, staff writer
Tags: World Bank, food prices, health news

eTrust Pro Certified

Most Viewed Articles
Popular on Facebook
CDC issues flu vaccine apology: this year's vaccine doesn't work!
Biologist explains how marijuana causes tumor cells to commit suicide
Depopulation test run? 75% of children who received vaccines in Mexican town now dead or hospitalized
BAM! Chipotle goes 100% non-GMO; flatly rejecting the biotech industry and its toxic food ingredients
Companies begin planting microchips under employees' skin
U2's Bono partners with Monsanto to destroy African agriculture with GMOs
NJ cops bust teenagers shoveling snow without a permit
Russia throws down the gauntlet: energy supply to Europe cut off; petrodollar abandoned as currency war escalates
McDonald's in global profit free fall as people everywhere increasingly reject chemically-altered toxic fast food
Chemotherapy kills cancer patients faster than no treatment at all
Why flu shots are the greatest medical fraud in history
600 strains of an aerosolized thought control vaccine already tested on humans; deployed via air, food and water
Italian court rules mercury and aluminum in vaccines cause autism: US media continues total blackout of medical truth
Flu vaccine kills 13 in Italy; death toll rises
The 21 curious questions we're never allowed to ask about vaccines
Vicious attack on Dr. Oz actually waged by biotech mafia; plot to destroy Oz launched after episode on glyphosate toxicity went viral
Orthorexia Nervosa - New mental disorder aimed at people who insist on eating a clean diet
Whooping cough outbreak at Massachusetts high school affected only vaccinated students

Delicious
(NaturalNews) Global food prices are nearly as high as they have ever been, the World Bank has warned, and may produce political instability worldwide.

Prices in early February soared to a level just 3 percent lower than the record highs of 2008, when food riots rocked dozens of countries. This marked a 29 percent increase over the course of just one year.

The World Bank food price index climbed 15 percent just between October and January, largely due to volatile trading in futures of corn, soybeans and wheat. Commodities traders expressed their nervousness about political instability in the Middle East and North Africa, as well as record low reserves of corn, soybeans and wheat.

Grain and soybean reserves are alarmingly low around the world. According the U.S. Department of Agriculture, for example, corn farmers will have only an 18-day supply of corn by the start of the 2011 harvest.

As a result, global corn futures more than doubled in the summer of 2010, from $3.50 per bushel to $7 per bushel. Corn prices were also pushed up by growing biofuels demand. Any weather events that affect the 2011 planting or harvest seasons will only cause further price increases.

Wheat prices climbed worldwide between June and December, increasing 16 percent in Pakistan, 45 percent in Bangladesh and 54 percent in Kyrgyzstan. The global price of sugar rose by 20 percent between October and January, while the price of fats and oils increased 22 percent.

Although price increases were lower in industrialized nations such as the United States, where food costs are less directly influenced by the price of raw ingredients, the effect has been more severe in poorer countries. According to the World Bank, higher corn, wheat and oil prices have caused 44 million more people to become extremely poor since June 2010.

People in economically developing countries may spend up to half their income on food alone.

As in 2008, further increases in food prices could fuel political instability, the World Bank warned. For example, both Egypt and Tunisia, sites of ongoing social unrest, are major wheat imporeters.

"That's where the international system needs to try to be aware of these issues, and try to do things at a minimum not to exacerbate food prices," bank president Robert Zoellick said.

Sources for this story include: http://news.yahoo.com/s/ap/20110215/ap_on_bi...

Join over four million monthly readers. Your privacy is protected. Unsubscribe at any time.
comments powered by Disqus
Take Action: Support NaturalNews.com by linking back to this article from your website

Permalink to this article:

Embed article link: (copy HTML code below):

Reprinting this article:
Non-commercial use OK, cite NaturalNews.com with clickable link.

Follow Natural News on Facebook, Twitter, Google Plus, and Pinterest

Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

GET SHOW DETAILS
+ a FREE GIFT

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of NaturalNews.com, the internet's No. 1 natural health news site. (Source: Alexa.com)

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.