According to the World Bank, the price of agricultural products increased by one percentage point as a result of higher prices for wheat, corn, and rice.
According to a World Bank research, the average price of wheat, corn, and rice climbed by 18%, 27%, and 10%, respectively, in October 2022 compared to September 2021. Rice prices decreased by 21% from January 2021. Wheat prices grew by 38% and 4%, respectively.
In a worldwide crisis that drives millions of others into abject poverty and exacerbates the hunger and malnutrition crisis, the World Bank said that it was this crisis that was to blame for the high prices of food. The Korona virus, according to a World Bank assessment, was a major setback for global efforts to fight poverty. Now, the recovery has been halted by the high prices of food and energy brought on by climate shocks and violence.
According to the International Monetary Fund, there is a need for spending between 5 and 7 billion dollars to help the families most in need of 48 countries are the most affected by the high prices of food and fertilizer imports. Over the next 12 months, an additional $ 50 billion will be available to end acute food insecurity.
According to a report released by the Food and Agriculture Organization and the World Food Program, there are currently 222 million people in 53 countries and regions who require urgent help due to severe food insecurity.
World Bank: In October, the cost of wheat, rice, and corn increased further.
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