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World wide Drought Sends Food Prices Higher

Discussion in 'Habari na Hoja mchanganyiko' started by Mu-Israeli, Aug 31, 2012.

  1. Mu-Israeli

    Mu-Israeli JF-Expert Member

    Aug 31, 2012
    Joined: Mar 21, 2012
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    [h=1]Long, hot summer sends food prices soaring[/h] By Paul Armstrong, CNN
    August 31, 2012 -- Updated 0847 GMT (1647 HKT)

    Rain clouds gather over the remnants of parched corn stalks on the plains of eastern Colorado, United States.


    • World Bank report reveals global food prices soared by 10% in July this year
    • Droughts and extreme temperatures across the world are the main cause
    • Domestic prices in some of the world's poorest countries rising sharply
    • World Bank calls on countries to do more to protect the vulnerable

    Hong Kong (CNN) -- A summer of droughts and extreme temperatures across the world threaten the planet's most vulnerable people, as food prices rise.
    A new report from the World Bank has revealed global food prices soared by 10% in July, with staples such as maize and soybean increasing by 25% to an all-time high.

    The drought-hit United States -- the world's largest exporter of grains such as maize -- is facing the worst production shortfalls since the "Dust Bowl" of the 1930s, while a scorching summer in Russia, Ukraine and Kazakhstan hit wheat supplies, according to Food Price Watch.

    A recipe for world food woes
    Overall, the World Bank's Food Price Index, which tracks the price of internationally traded food commodities, was 6% higher than in July of last year, and 1% over the previous peak of February 2011.