In the Horn of Africa, the prices of food, fats, oil, and grains have exceeded peak levels not seen since the last global food crisis in 2008. Between 2010 and early 2011 the global prices of corn, sugar and wheat rose by 84%, 62%, and 55% respectively. During this period domestic food prices have also fluctuated widely. In this report the World Bank blames soaring food prices on poor local harvests, dwindling global food stocks, US production of corn ethanol and a volatile global food supply.
August 2011
To view the report, click here.