Daily Trust (Abuja)

Nigeria: Food Prices Still High in Developing Countries

Abuja — The Food Agricultural organization (FAO) says international food prices have come down compared to last year but are still very high in developing countries.

Despite the slowing down of international prices compared to last, poorer countries especially in Africa are still experiencing high prices of food particularly staple food.

According to the organization's media report, the inability of small holder farmers to buy farm inputs to boost yield and feed their families is attributed to the global financial meltdown.

According to FAO, staple food prices are still "stubbornly high in developing countries" because of the impact of the global economic crisis which saw a 24 percent jump in prices since 2006 and efforts need to be geared towards building farmers ability to withstand further food in order to ensure food security if countries are to come out of the crisis.

The serious impacts of high food prices and financial crisis evident in job losses, reduced wage and low remittances has placed the world's poorest people at great difficulty forcing many to spent between 60 to 80 percent of their income on food.


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