Wednesday, April 27, 2011
[IWS] ADB: GLOBAL FOOD PRICE INFLATION & DEVELOPING ASIA [26 April 2011]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
Asian Development Bank (ADB)
Global Food Price Inflation and Developing Asia [26 April 2011]
[full-text, 39 pages]
Press Release 26 April 2011
Soaring Food Prices Again Threaten to Push Millions of Asians into Poverty - ADB
MANILA, PHILIPPINES - Resurgent global food prices, which posted record increases in the first two months of 2011, are again threatening to push millions of people in developing Asia into extreme poverty, says a new report from the Asian Development Bank (ADB) titled 'Global Food Price Inflation and Developing Asia'.
Food prices had been expected to continue a gradual ascent in the wake of the sharp spike in 2008. The report says that fast and persistent increases in the cost of many Asian food staples since the middle of last year, coupled with crude oil reaching a 31-month high in March, are a serious setback for the region which has rebounded rapidly and strongly from the global economic crisis.
Domestic food inflation in many regional economies in Asia has averaged 10% in early 2011. The ADB study finds that a 10% rise in domestic food prices in developing Asia, home to 3.3 billion people, could push an additional 64 million people into extreme poverty based on the $1.25 a day poverty line.
Causes of High Food Prices
Transmission of Global Food Prices to Domestic Prices
Food Price Near-Term Outlook
Effects of High and Rising Commodity Prices
Policies for Enhancing Food Security
Appendix 1: Impact of Food Price Increases on Poverty for 25 Developing Asian Countries, $1.25-a-day Poverty Line
Appendix 2: National Policies to Address Rising Food Prices (as of 16 February 2011)
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