Global Food Price Inflation and Developing Asia
Nonfiction, Science & Nature, Technology, Agriculture & Animal Husbandry, Social & Cultural Studies, Political Science, Government
| Author: | Asian Development Bank | ISBN: | 9789290922827 |
| Publisher: | Asian Development Bank | Publication: | March 1, 2011 |
| Imprint: | Asian Development Bank | Language: | English |
| Author: | Asian Development Bank |
| ISBN: | 9789290922827 |
| Publisher: | Asian Development Bank |
| Publication: | March 1, 2011 |
| Imprint: | Asian Development Bank |
| Language: | English |
The specter of high commodity prices has recently reemerged, with global food prices registering a new peak in February 2011, triggered mainly by production shortfalls due to bad weather. The 30% hike in international food prices has translated to an average domestic food price inflation in developing Asia of about 10%. This could push an additional 64.4 million Asians into poverty, or lead to a 1.9 percentage point increase in poverty incidence based on the $1.25-a-day poverty line. The frequency with which food price spikes have occurred in recent years suggests that short- and long-term solutions need to be implemented to secure food supplies for the world's growing population.
The specter of high commodity prices has recently reemerged, with global food prices registering a new peak in February 2011, triggered mainly by production shortfalls due to bad weather. The 30% hike in international food prices has translated to an average domestic food price inflation in developing Asia of about 10%. This could push an additional 64.4 million Asians into poverty, or lead to a 1.9 percentage point increase in poverty incidence based on the $1.25-a-day poverty line. The frequency with which food price spikes have occurred in recent years suggests that short- and long-term solutions need to be implemented to secure food supplies for the world's growing population.
