Food Price Watch: “Global food prices have increased by 8% in the last four months since December 2011, and in March 2012 were only 6% below their February 2011 historical peak. All key food prices have increased, except for rice. Increasing international oil prices, adverse weather conditions, Asia’s strong demand for food imports, and the persistent European financial crisis have contributed to this increase, notwithstanding the projected bumper harvests of rice and coarse grains and the corresponding increase in ending food stocks. Domestic prices remain high in many parts of the world, with the magnitude of increases typically exceeding price declines across countries. If the current production forecasts for 2012/13 do not materialize, global food prices could reach higher levels, underscoring the need to remain vigilant and improve the monitoring of early signals of global and regional crises.”