World Bank President says the Food Crisis has entered the “Danger Zone”

On April 14, World Bank president Robert Zellick warned  that the world food crisis has entered the “danger zone.” Food stocks are so low that another round of bad harvests could send food prices soaring still higher.  According to the World Bank’s index of basic food commodities, prices last month were 36% above a year earlier.  Over the past year, the price of maize has gone up 74%, wheat 69%, soybeans 36%, and sugar 21%.   For many of the 1.2 billion people living in severe poverty (less than $1.25 a day), particularly those living in urban areas, these prices shocks have been borderline catastrophic.  In the past year, rising food prices have pushed another 44 million into severe poverty, and the World Bank warns that the worst may be yet to come.  If prices go up another 10%, the World Bank says another 10 million will fall below the severe poverty line.  If prices go another 30%, an estimated 34 million will be added.

http://blog.populationinstitute.org/2011/04/15/running-into-the-danger-zone/