The global economy is “one shock away” from a crisis in food supplies and prices, says World Bank President Robert Zoellick.
Zoellick estimated 44 million people have fallen into poverty due to rising food prices in the past year, and a 10 per cent increase in the food price index would send 10 million more people into poverty. The United Nations FAO Food Price index jumped 25 per cent last year, the second-steepest increase since at least 1991, and surged to a record in February.
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