Friday, April 29, 2011

Global Food Prices Up 36%

Global food prices have risen by 36 percent in the past year, according to figures released last week by the World Bank. The Bank hosted its spring meetings in Washington, where it called on policymakers to focus on food security. 

Experts say that for many developing countries, that means supporting the interests of small farmers. Just this week, the World Bank Rwanda country office released a report titled “Sowing the seeds for High economic Development in Rwanda 2010” that pointed that this year, agricultural growth is expected to be modest, slightly lower than the 4.6 percent registered last year against a record high of 7.7 percent in 2009.

The World Bank estimates are however a bit different from central bank's projections, where agriculture grew by five percent in the first quarter of this year with robust growth projected in the next season.

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