Food Price Volatility a Growing Concern, World Bank Stands Ready to Respond

“We cannot allow short-term food-price spikes to have damaging long-term consequences for the world’s most poor and vulnerable”  – World Bank Group President Jim Yong Kim

WASHINGTON, July 30, 2012—Given the exceptional drought in the US, current crop conditions in other grain producing regions, and the resulting increase in international food prices, the World Bank today expressed concern for the impacts of this volatility on the world’s poor, who are highly vulnerable to increases in food prices.

“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,” said World Bank Group President Jim Yong Kim.

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.”

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