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Soaring food prices and the rural poor

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The prices of basic food commodities have increased rapidly over the past three years. In only the first quarter of 2008, wheat and maize prices increased by 130 percent and 30 percent respectively over 2007 figures. Rice prices, while rising moderately in 2006 and more so in 2007, rose 10 percent in February 2008 and a further 10 percent in March 2008. The threat to food security in developing countries increases in stride. Coordinated action by the international community, and by the United Nations in particular, is essential. "Responding effectively to the impact of higher food prices must be a top priority for the global community, particularly when the impact is combined with the projected effects of climate change", says Lennart Båge, IFAD's President.
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