World Bank says current high food prices have taken 44 million into the acute poverty zone

[John Stills, International Economy News Contributor]

BBC News: According to a recent World Bank report, food prices worldwide are approaching dangerously high levels – they are 36 per cent higher than last year’s now.

According the World Bank, the main blame for such such a soar upwards is down to the problems in the Middle East and North Africa, where political shifts, civil unrest and economic problems have contributed to a dramatic fuel cost rise and 44 million more people being driven into poverty since June 2010.

If the prices grow by another 10 per cent, another 10 million will have to say goodbye to normal living standards – their income will drop to one-and-a-half dollar a day, the amount comparable to the average income of the poorest in African and South-East Asian countries.

In total, 1,2 billion people in the world are below the poverty threshold of 1.25$ a day, which, according to various reports, is due to high food prices as well as to the enormous  gap between the rich and the poor in developing countries such as India, Thailand and others.

“More poor people are suffering and more people could become poor because of high and volatile food prices,”  World Bank president Robert opined. We have to put food first and protect the poor and vulnerable, who spend most of their money on food.”

To ease the problem, social help programs, including  food distributing among the poor, as well as various agricultural technology projects are currently under consideration by the World Bank.

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