Global Food Crisis Fears Abate

Fears of a major global food shortage appear to have abated since the first part of the year, with food prices declining slightly from their peak and prospects for the overall supply slightly brighter. However, prices for specific commodities such as rice, maize and wheat continue to be volatile, according to the World Bank’s Food Price Watch report, which was published earlier this week. After peaking in February, the bank’s food price index for the period April to July averaged 278.3, or roughly 5 percent below its top.

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