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 A new tool produced by the United Nations Food and Agriculture Organisation (FAO) shows that in most developing countries food prices remain high or are even increasing, despite the fall in global agricultural commodities prices. The number of people suffering from hunger rose to 1 billion last year following a sudden rise in the price of basic food staples.
The National Basic Food Prices Data and Analysis Tool shows prices of different food products in local currencies or dollars and in local measurements and standard weight. The tool aims to provide more comprehensive information on local food prices in developing countries in order to better address the global food crisis. "While food prices have fallen internationally, as indicated by the FAO food price index, this tool shows that in developing countries they have not fallen so fast, or at all," said Liliana Balbi, a senior FAO economist. "The easy-to-use database will be an invaluable source of information for policy and decision-makers in agricultural production and trade, development and also humanitarian work," she added. The FAO notes that: "Food price inflation hits the poor hardest, as the share of food in their total expenditures is much higher than that of wealthier populations. Food represents about 10-20 percent of consumer spending in industrialised nations, but as much as 60-80 percent in developing countries, many of which are net-food-importers." The National Basic Food Prices Data and Analysis Tool can be accessed at: http://www.fao.org/giews/pricetool Sources: |
