OREANDA-NEWS. September 07, 2012. This was stated in the last WB report “Food Price Watch”. The document runs that as a result of the unparalleled drought and high temperatures of this summer in Eastern Europe and the US, which are major global importers of maize and soyabeans, global food prices grew 10% in July as compared with June; prices for internationally trade maize and soyabeans reached their all-time peaks: between June and July prices for maize and wheat soared by 25%, prices for soyabeans grew by 17% and prices for rice only declined by 4%.

In total, the World Bank Food Price Index, which weighs the U.S. dollar price for several internationally traded food commodities, exceeded 6% recorded in July, 2011 and 1% the previous all-time peak registered in February, 2011. WB notes that the dry summer in the Russian Federation, Ukraine, and Kazakhstan has contributed to projected wheat production losses. World Bank Group President Jim Yong Kim stresses that global food prices again soared, threatening health and prosperity of millions of people.

According to him, Africa and the Middle East are the most exposed to the danger. For example, this quarter Sub-Saharan Africa saw the most considerable increase in prices for Maize, which grew soared 113% in Mozambique. In the region of Sahel and in eastern parts of Africa prices for sorgho soared, Increasing by 220% in South Sudan and 190% in Sudan. Jim Yong Kim announced WB can not let the unprecedented growth in food prices would turn into a constant threat to families, which have to stop sending their children to schools and deny themselves nutrition to compensate the growth in prices.

According to him, states have to launch target programs and take proper measures to lessen the pressure the draught fall outs exerted on the most vulnerable groups of people. Jim Yong Kim stresses that WB has increased its aid to growers to a highest amount for the last 20 years and is going to give a proper response to higher world food prices in future.