G20 agriculture ministers are gathering in Paris on Wednesday to discuss soaring food prices.

The meeting comes following the release of a new joint report by the UN Food and Agricultural Organization (FAO) and the Organisation for Economic Co-operation and Develpment (OECD) on global food prices.

The report concludes that global food prices are likely to increase over the next decade, putting the poor at risk of malnutrition. It projects that prices for cereals could jump by as much as 20 per cent and meat by as much as 30 per cent in the next decade. It also warns that droughts across the world could have a serious impact on harvests.

Rising food prices will impact agriculture, food security and even the wider economy in both developed and developing countries. 

Inside Story, with presenter Jane Dutton, discusses with guests: Abdolreza Abbassian, an economist at the FAO; Marie Brill, a senior policy analyst at Action Aid; and Michael Hewson, a market analyst at CMC Markets - a UK-based financial derivatives dealer. 

This episode of Inside Story aired on June 21, 2011.