Friday, April 27, 2012
[IWS] Word Bank: FOOD PRICE WATCH: Food Prices Rise Again on Higher Oil Prices and Adverse Weather [25 April 2012]
IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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World Bank
FOOD PRICE WATCH [25 April 2012]
or
[full-text, 6 pages]
Press Release 25 April 2012
Food Prices Rise Again on Higher Oil Prices and Adverse Weather
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:23180612~pagePK:64257043~piPK:437376~theSitePK:4607,00.html
MAIN MESSAGES:
Global food prices have increased by 8% in the last four months since December 2011, and in March 2012 were only 6% below their February 2011 historical peak. All key food prices have increased, except for rice.
Increasing international oil prices, adverse weather conditions, Asia's strong demand for food imports, and the persistent European financial crisis have contributed to this increase, notwithstanding the projected bumper harvests of rice and coarse grains and the corresponding increase in ending food stocks.
Domestic prices remain high in many parts of the world, with the magnitude of increases typically exceeding price declines across countries. If the current production forecasts for 2012/13 do not materialize, global food prices could reach higher levels, underscoring the need to remain vigilant and improve the monitoring of early signals of global and regional crises.
JUMP TO SECTION: Global Price Trends | Toward a New Crisis?
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