Global food prices stable but high, says World Bank report
UN agencies have estimated that some 870 million people are chronically malnourished. Eradicating hunger is one of the eight UN Millennium Development Goals (MDG) to reduce global poverty. The World Bank urged governments to strengthen safety nets for the poorest and ensure that nutrition was factored into the help given to poor households. “More resources, better data and sound policy choices continue to be needed to end hunger for the world’s 870 million hungry people,” the Bank said.
Otaviano Canuto, World Bank vice president for poverty reduction and economic management, also urged countries to boost investment in agriculture to increase food production, which would help reduce prices.
The World Bank and other lenders have raised financing for agriculture in developing countries, a sector that had long suffered from under investment. The 2008 food price and energy crisis, however, highlighted the need for more investment in food production. A swelling middle class in fast-growing emerging economies like China has added to rising demand for more food supplies.
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