Price of essentials rises by 10 per cent

The G20 is under growing pressure to call an emergency food summit after the price of essentials jumped by ten per cent on average in July.

New research shows prices are at a record high following “an unprecedented summer of droughts and high temperatures”. Cereal prices were particularly hard hit, with maize and wheat rising by a quarter and soybeans by 17 per cent, as poor weather decimated harvests in the US, Russia, Ukraine and Kazakhstan, according to the World Bank. The average global food price in July stood six per cent higher than a year earlier.

“Food prices rose again sharply threatening the health and well-being of millions of people,” said World Bank Group President Jim Yong Kim. “Africa and the Middle East are particularly vulnerable, but so are people in other countries where the prices of grains have gone up abruptly,” he added.

Independent

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2 responses to “Price of essentials rises by 10 per cent

  1. “The G20 is under growing pressure to call an emergency food summit”

    Uhhh . . . and what exactly would they do about it? The marketplace will CONTINUE to ignore the G20.
    Some G20 nations might be incited to interfere with the marketplace. Millions will die.

  2. Let them eat biodiesel!
    Let the third world know that their food has been diverted to fuel the Green movement’s ‘sensibilities.’

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