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Food prices soaring, says World Bank
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World food prices are 36% above levels of a year ago, the bank said. Prices of basic commodities remain close to their 2008 peak, with the prices of wheat, maize and soya all rocketing. The only exception is rice, which has fallen slightly in price in the past year. Among other measures, the World Bank is encouraging food-producing countries to divert production away from biofuels production when food prices exceed certain limits. Other recommendations include targeting social assistance and nutritional programs to the poorest, better weather forecasting, more investments in agriculture, the adoption of new technologies - such as rice fortification to make it more nutritious, and efforts to address climate change. (Italics added)
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