The U.N.’s food price index hit a record in January and recent catastrophic weather around the globe could put more pressure on the cost of food, an issue that has already helped spark protests across the Middle East. Up for the seventh month in a row, the closely watched Food and Agriculture Organization Food Price Index on Thursday touched its highest since records began in 1990, and topped the peak of 224.1 in June 2008, during the food crisis of 2007/08.
“The new figures clearly show that the upward pressure on world food prices is not abating. These high prices are likely to persist in the months to come,” FAO economist and grains expert Abdolreza Abbassian said in a statement.
Surging food prices have come back into the spotlight after they helped fuel the discontent that toppled Tunisia’s president in January and have spilled over to Egypt and Jordan, raising expectations other countries in the region would secure grain stocks to reassure their populations.
World Bank President Robert Zoellick urged global leaders to “put food first” and wake up to the need to curb increased price volatility.
“We are going to be facing a broader trend of increasing commodity prices, including food commodity prices,” he told Reuters in an interview.
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