Plea for urgent food crisis action
World Bank asks rich nations to give millions to ease burden of low-income countries.
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Costlier food hits world’s poorest hard |
Robert Zoellick, the World Bank president, told the gathering: “Based on a very rough analysis, we estimate that doubling of food prices over the last three years could potentially push 100 million people in low-income countries deeper into poverty.”
He said the food crisis could mean “seven lost years” in the fight against worldwide poverty.
“We have to put our money where our mouth is now so that we can put food into hungry mouths. It’s as stark as that.”
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The bankers appealed for $500 million in donations by May 1 to re-stock the UN’s depleted World Food Programme.
Global food crisis |
Food riots have erupted in countries including Haiti, Egypt, Cameroon, Ivory Coast, Senegal, Burkina Faso, Ethiopia, Indonesia, Madagascar, the Philippines and Haiti in the past month
In Pakistan and Thailand, army troops have been deployed to avoid food being seized from fields and warehouses
Prices in these countries for foodstuffs such as rice, wheat, sorghum and maize have doubled
Causes of crisis range from financial speculation on food commodities, desertification, population increases, China and India’s economic growth and use of grains to make biofuels
Cost of funding projects enabling governments to tackle food crisis could be up to $1.7bn
However world cereal production in 2008 is projected to increase by 2.6 per cent to a record 2,164 million tonnes
Source: United Nations Food and Agricultural Organisation (FAO) |
The World Bank has reported that global wheat prices jumped 181 per cent over the 36 months to February, with overall food prices up 83 per cent.