Friday, April 15, 2011

World Bank Warns of Soaring Food Prices

The World Bank has warned that global food prices have reached unsafe levels, pushing 44 million people, mostly in poor countries, into poverty since June last year.

"We are in a danger zone because prices have already gone up; stocks for many commodities are relatively low," AFP quoted World Bank President Robert Zoellick as saying on Thursday.

Speaking after the opening of the bank's annual meeting with the International Monetary Fund in Washington, Zoellick stated that the fluctuations in food prices pose a great threat to the lives of the poor people in the world.


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