{{World Food Prices have increased by nearly 10% in July the World Bank said Thursday.}} <\/p>\n
World Bank President Jim Yong Kim said in a statement. \u201cAfrica and the Middle East are particularly vulnerable, but so are people in other countries where the prices of grains have gone up abruptly.\u201d<\/p>\n
He added, \u201cFood prices rose again sharply threatening the health and well-being of millions of people.\u201d <\/p>\n
The souring prices have largely been due to drought in the US and Eastern Europe crop centers, raising a food security threat to the world\u2019s poorest people.<\/p>\n
Central US produces the world\u2019s largest crops of corn (maize) and soybeans. the devastating heat wave swept through this region causing an extended drought affecting crop production in the region.<\/p>\n
From June to July, the prices of both corn and wheat jumped by 25% while soybeans were up 17%. Corn and soybean prices topped their previous record highs in the food price crisis of June 2008. <\/p>\n
Other key global staple, rice, was 4% lower. This has left the World Bank\u2019s food price index 6% higher than a year earlier and 1% higher than the February 2011 peak.<\/p>\n
The surge in crop prices places in danger millions around the world, especially in countries dependent on imported grains, according to the World Bank.<\/p>\n
World Bank called countries in the Middle East and North and Sub-Saharan Africa the \u201cmost vulnerable to this global shock.\u201d<\/p>\n
\u201cThey have large food import bills, their food consumption is a large share of average household spending, and they have limited fiscal space and comparatively weaker protective mechanisms,\u201d the Bank said in its Food Price Watch report.<\/p>\n
\u201cDomestic food prices in these regions have also experienced sharp increases even before the global shock due to seasonal trends, poor past harvests, and conflict,\u201d it said.<\/p>\n
The World Bank said that the diversion of corn to produce ethanol biofuel \u2014 which takes up to 40 percent of US corn production \u2014 is a key factor in the sharp rise in the corn price.<\/p>\n","protected":false},"excerpt":{"rendered":"
{{World Food Prices have increased by nearly 10% in July the World Bank said Thursday.}} World Bank President Jim Yong Kim said in a statement. \u201cAfrica and the Middle East are particularly vulnerable, but so are people in other countries where the prices of grains have gone up abruptly.\u201d He added, \u201cFood prices rose again […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[90,75],"byline":[334],"hashtag":[],"class_list":["post-3024","post","type-post","status-publish","format-standard","hentry","category-news","tag-a_doingbusiness","tag-homenews","byline-igihe-reporter"],"bylines":[{"id":334,"name":"IGIHE Reporter","slug":"igihe-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"contributors":[{"id":334,"name":"IGIHE Reporter","slug":"igihe-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/3024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=3024"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/3024\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=3024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=3024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=3024"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=3024"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=3024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}