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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.
STORY HIGHLIGHTS
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.
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.
STORY HIGHLIGHTS
- 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.