Food Prices Remain High in Poor Countries, says FAO

According to the UN Food and Agriculture Organization's (FAO's) latest Crop Prospects and Food Situation Report, food prices in poor countries remain "stubbornly high" despite good world cereal production this year. The UN agency noted that the current food insecurity affects 31 countries, with the situation particularly serious in East Africa where 20 million people are in need of emergency food aid.

FAO said that although food prices have fallen significantly since their peaks a couple of years ago "the international prices of wheat and maize strengthened in October and rice export prices are well above pre-crisis levels."

"For the world's poorest people who spend up to 80 percent of their household budgets on food, the food price crisis is not over yet," said FAO Assistant Director General Hafez Ghanem. "It is now a global priority to increase investment in developing country agriculture in order to fight poverty and hunger". FAO released its report in time for the World Summit on Food Security which will be held in Rome next week.

For more information, read http://www.fao.org/news/story/en/item/37127/icode/