Rising food prices: A global crisis

• Food prices have been rising since 2000, spiked in early 2008, and may remain high for another ten years • Prompt action is needed to protect the poorest and support low-income countries faced by surging import bills • In the medium term, economic and agricultural growth can offset the damage, but this will require more determined efforts to boost food production Soaring food prices pose problems for three groups. First, the poor whose ability to buy food is undermined. Second, governments of low-income countries facing higher import bills, soaring costs for safety net programmes and political unrest. Third, aid agencies juggling increased demands for food, cash and technical advice. High food prices threaten the gains made since the 1960s and highlight the long-term need for investment in, and better management of, the global food supply. This Paper examines the causes of rising food prices, expected trends, the likely impact, and possible policy responses.