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World Bank says ready to cope with food price volatility

07-30-2012 22:05 BJT

WASHINGTON, July 30 (Xinhua) -- The Washington-based World Bank on Monday said it stood ready to respond to global food price volatility triggered by concerns including the drought in the United States.

World Bank figures revealed that food prices have risen across all the non-rice grains this year, with wheat prices up more than 50 percent since mid-June, the price for corn surging more than 45 percent since mid-June and soybean prices up almost 30 percent since the beginning of June.

"When food prices rise sharply, families cope by pulling their kids out of school and eating cheaper, less nutritious food, which can have catastrophic life-long effects on the social, physical, and mental well being of millions of young people," World Bank President Jim Yong Kim said in a statement.

"The World Bank and our partners are monitoring this situation closely so we can help governments put policies in place to help people better cope," Kim added.

 

Editor:James |Source: Xinhua

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