W/Bank raises alarm over rising food prices

THE World Bank, on Monday, expressed concern over the rising food prices, saying it was ready to help governments across the globe to respond to the development that has again put the world's poorest people at risk and could have lingering detrimental impacts for years.According to World Bank Group President, Jim Yong Kim, 'we cannot allow short-term food price hikes to have damaging long-term consequences for the world's most poor and vulnerable. The World Bank and our partners are monitoring this situation closely, so we can help governments put policies in place to help people to cope better,' Kim, a public health expert, said.Wheat prices have jumped more than 50 per cent and corn prices more than 45 per cent since mid-June, with dry conditions in Russia, Ukraine and Kazakhstan, wet weather in Europe and a below average start to the Indian season adding to global crop worries.Prices for soybeans have also risen almost 30 per cent over the past two months and nearly 60 per cent since the end of last year.'When food prices rise, families cope by pulling their kids out of school and eating cheaper, less nutritious food, which can have catastrophic life-long effects on the social, physical, and mental well being of millions of young people,' Kim said.
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