High-Level Conference on World Food Security: The Challenges of Climate Change and Bioenergy, Rome, 3 – 5 June 2008. Report: Soaring food prices: facts, perspectives, impacts and actions required (50 pages, PDF)

1. “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.
2. Rising food prices are causing severe hardship and suffering. For many of the 800 million people who are already affected by chronic hunger, higher food prices can be devastating. Already their ranks are being swelled by many other millions of poor people who now find themselves unable to buy the food that their families need for a healthy life. It is not surprising that this is provoking social unrest across the developing world.