Food Price Hikes Could Push Millions To Poverty

[Mr Lee]

So it is not just me who is seeing this outrageous increase in prices here and even more so than back in the US. Anyone else feeling the pinch? (CNNMoney) -- As global food prices rise near record highs, the World Bank warned Thursday that further spikes could push millions more people deeper into poverty.The organization that loans money to developing nations said its global food price index was up 36% in March from levels a year earlier. The increase was driven by sharp boosts in prices for corn, wheat, soybeans and other staples.The surge in global food prices has already driven 44 million people below the "extreme poverty line," which the World Bank defines as living on just $1.25 a day.An additional 10% increase in food prices would cause another 10 million people to fall below the poverty line, while a 30% spike would lead to 34 million more poor, according to the World Bank."The numbers tell a grim story of persistent, grinding pressure on the world's poor," said World Bank president Robert Zoellick at a press conference.Food prices have been on the rise since last year, as crops in many parts of the world were damaged by bad weather, including a major drought that led Russia to issue an export ban on wheat. Canada, Australia and Argentina were also hit with weather events that damaged crops in the second half of last year.THIS story HERE

[Art2ro]

Luckily I like dried fish or BBQ smelly tuwu (fish) and rice, so I may survive on that if I have to! Can you? I'm not into those packaged dried noodles with a lot of MSG!