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Global food prices surge 33% year-on-year

08-16-2011 14:38 BJT

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Global food prices held near three-year highs in July and stocks were low, adding pressure on the world's poor. That's according to the World Bank on Monday.

With large rises in prices for maize, corn, and sugar, the World Bank Food Price index increased 33 percent in July from a year ago. Although food prices are still moderating in developed countries, they have been volatile in developing economies.

Global food prices held near three-year highs in July.

Overall food supply has increased since April, but global stocks remain alarmingly low. Due to the low stock environment, small shortfalls in yields can have amplified effects on prices.

Central market of Léo, Burkina Faso

 

A fruits vendor waits for customers at a market in Beijing Tuesday, Aug 9, 2011.

 

Editor:Li Wanran |Source: CNTV.CN

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