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Economy Sep 7, 2012

World must prevent food price hike: UN

The UN has reported that global food prices remained steady in August, but warned that the international community should continue to be vigilant and seek to prevent any sharp price increases.

"Current food prices do not justify talk of a world food crisis, although the international community should remain vigilant," UN spokesperson Martin Nesirky said.

Reuters

The statement came after the Food and Agriculture Organization (FAO) released its August Food Price Index (FPI), which showed that prices for August were unchanged from July, reported Xinhua.

In July, the FPI surged six percent after three months of decline. According to the FAO, the rise in prices was partly caused by the severe deterioration of maize crop prospects in the US, as extensive drought damage helped push up maize prices by almost 23 percent.

IANS

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