FAO food price database launched
Interactive internet tool covers 55 countries - shows
food prices locally have yet to fall:
As part of its response to high food prices, FAO has developed an
interactive database of staple food prices on national markets in 55
developing countries from Afghanistan to Zimbabwe.
The "National Basic Food Prices Data and Analysis Tool shows the
prices of different food commodities in local currencies or dollars and
local measurements as well as standard weights.
It allows for price comparisons between domestic and international
markets, between different markets in the same country, as well as
between countries.
"While food prices have fallen internationally, as indicated by the
FAO food price index, this tool shows that in developing countries they
have not fallen so fast, or at all," said a senior economist with FAO's
Global Information and Early Warning System, Liliana Balbi.
"The easy-to-use database will be an invaluable source of information
for policy and decision-makers in agricultural production and trade,
development and also humanitarian work," she said.
Food price inflation hits the poor hardest, as the share of food in
their total expenditures is much higher than that of wealthier
populations.
Food represents about 10-20 percent of consumer spending in
industrialised nations, but as much as 60-80 percent in developing
countries, many of which are net-food-importers.
Currently 963 million people or around 15 percent of the world's
population are suffering from hunger and malnutrition.
The new analysis tool has benefited from a financial contribution
from Spain under the FAO Initiative on Soaring Food Prices.
FAO plans to add new countries and series to the database.
FAO
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