MercoPress. South Atlantic News Agency

Zoellick calls for the reinstatement of emergency food aid program

Soaring wheat prices force hikes in substitutes

World Bank president Robert Zoellick expressed concern about the renewed speculation with agriculture commodities which in the last months have seen prices of food in developing countries soar

“In many developing countries the food crisis of 2008 never dissipated and current prices are cause of serious concern”, said Zoellick in a video conference.

Zoellick called for the reinstatement of an emergency food aid program which under the World Bank helped several developing countries face the rocketing prices of 2007 and 2008.

“The rise in wheat prices of recent months has its impact on other basic foods because of the growing demand for substitutes. We must find a way to avoid that the food crisis becomes a recurrent phenomenon”, said the WB president.

According to FAO, Food and Agriculture Organization, between July and September wheat prices soared between 60% and 80%, corn 40% and rice 7%.