Global food prices increased by eight per cent from December 2011 to March 2012 due to higher oil prices, adverse weather conditions, and Asia's strong demand for food imports, according to the World Bank Group's latest Food Price Watch.
The World Bank's Global Food Price Index was only one per cent below a year ago and six per cent below the February 2011 historic peak. If the current forecasts for increased food production do not materialise, global food prices could reach higher levels, underscoring the need to remain very vigilant.
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