Food Surge Is Exacerbating Poverty, World Bank Says

Global food prices have surged to dangerous levels, pushing 44 million more people into extreme poverty since June, according to the World Bank, which warned some nations may make the mistake of imposing curbs on shipments.

“The price hike is already pushing millions of people into poverty and putting stress on the most vulnerable, who spend more than half of their income on food,” President Robert Zoellick said yesterday. During the 2008 food crisis, the bank said 100 million may be driven deeper into poverty. The bank defines “extreme poverty” as living on less than $1.25 a day.

The bank’s food-price index rose 15 percent between October and January, led by wheat, sugar and edible oil. The gauge is 3 percent below a 2008 peak, when surging costs sparked riots in more than a dozen countries. The outlook for rice, staple for half the world, “appears stable,” the bank said in a statement.

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- Posted: 2011-02-19 21:11:00

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