Aug 16, 2011
WASHINGTON ‚ÄĒ Food prices near record peaks and volatility in commodity markets are driving the lives of the world’s poorest people to the edge of survival, the World Bank warned Monday.
Global food prices in July were 33 percent higher than a year ago, while oil prices were up 45 percent, driving up the price of fertilizers, the development lender said in a quarterly report.
“Persistently high food prices and low food stocks indicate that we’re still in the danger zone, with the most vulnerable people the least able to cope,” World Bank president Robert Zoellick said in a statement.
“Vigilance is vital given the uncertainties and volatility that exists today. There is no cushion.”
This article was posted: Tuesday, August 16, 2011 at 2:33 am