Soaring food prices: facts, perspectives, impacts and actions required

 
 
 
The world is experiencing a dramatic increase in food prices. During the first three months of 2008, international nominal prices of all major food commodities reached their highest levels in nearly 50 years while prices in real terms were the highest in nearly 30 years. Although the food market situation differs from country to country and future evolution remains highly uncertain, best projections suggest that food prices are likely to remain high in the next few years and high prices are expected to affect most developing country markets.