Food prices rise on costlier oil: World Bank
Quotes

Food prices rise on costlier oil: World Bank

Last Updated: Thursday, April 26, 2012, 09:51
 
 Comment 0
 
Food prices rise on costlier oil: World Bank
Washington: Global food prices rose by eight percent in the first three months of 2012 due to higher oil prices, adverse weather and strong demand in Asia, the World Bank said in its latest Food Price Watch report Wednesday.

"The World Bank's Global Food Price Index was only 1 percent below a year ago and 6 percent below the February 2011 historic peak. If the current forecasts for increased food production do not materialize, global food prices could reach higher levels, underscoring the need to remain very vigilant," the Bank said in a statement.

"After four months of consecutive price declines, food prices are on the rise again, threatening the food security of millions of people. Putting food first must remain a priority for the international community and in our work in developing countries," Xinhua quoted Otaviano Canuto, World Bank Vice President for poverty reduction and economic management, as saying.

According to the quarterly report, prices of all key staples increased between December and March, except for rice, due to both abundant supply and strong competition among exporters. Maize prices increased by 9 percent, soybean oil by 7 percent, wheat by 6 percent and sugar by 5 percent.
IANS



First Published: Thursday, April 26, 2012, 09:51


Comments


comments powered by Disqus
Google I/O 2014
Google I/O 2014
Maker Faire @ White House
Maker Faire @ White House
Amazon unveils 3D `Fire` smartphone
Amazon unveils 3D `Fire` smartphone
RIL`s 40th AGM
RIL`s 40th AGM
Samsung Galaxy Tab S
Samsung Galaxy Tab S

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved