World Bank has urged governments such as in Africa and the Middle East to add more programs to help its helpless populations as world food prices soared an average of 10% in July 2012. According to World Bank, the prices of main food sources such as corn and wheat had increased by 25% from June to July 2012. While other top food sources including soybean has increased by 17% within the past two months. Only the price of rice went down about 4% during the period. Due to the high prices, World Bank urged the head of nations to draw the right policies to help its unfortunate citizens.
World Bank worried that the recent price hikes could impact on poor families as many of those will not be able to afford to send their kids to schools. Many kids will suffer from malnutrition as most of them will eat less food due to the high prices.
This year’s hot weather in America has damaged crops which impacted on farmers to produce less corns and soybeans. While dry summer in Eastern Europe countries such as the Russian Federation, Ukraine, and Kazakhstan, has reduced wheat production.
(Logo: World Bank)