Rising food prices to impact on the poor

Global food prices are soaring which could lead to a repeat of the 2007/2008 food crisis, according to the UN Food and Agricultural Organization or FAO.

Rising global food prices

Rising global food prices

Major food producing countries are reported to be contemplating introducing export restrictions on agricultural commodities to protect their markets.

The FAO says such policies will only provoke more uncertainty and disruption on world markets and drive prices up further globally.

Richard China, is the director of the FAO Policy and Programme Development Support Division.

“FAO is calling upon countries to carefully examine the implications of high food prices and not to take any policy actions that might appear useful in the short term but could have harmful, longer-term effects or even aggravate the situation.”

FAO says prices of key commodities such as cereals rose sharply in December 2010 raising serious concern about implications for food prices in vulnerable countries especially in Africa.

The agency says in the medium and longer term only investment in developing countries’ agricultural sectors will result in sustainable increases in productivity, healthy markets, increased resilience to international price spikes and improved food security.

Filed under Today's News.
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