Food price increased by 33 percent

The people from developing countries  became more prone to food crisis due to increase prices of food commodity world wide.The price of food became 33 percent high in this July than at the same time of last year.

According to the  food commodity price monitoring report recently published by world bank  indicate that unstable price of food commodity increased the risk of food crisis for poor people in the developing nations.

The Report shows that there is  increase of price in maize by 84 percent,sugar by 62 percent,barley by 55 percent and soya bean by 47 percent  and all together there is increase of aggregate price by 33 percent. The price of crude oil is increased by 45 percent in compared to July 2010 which caused 67 increase in production cost .

The report shows that the  world wide food storage  is decreasing and the instability in the price of  sugar,rice and petroleum may cause undetectable effect on coming months.The report said “The unstable  world economy and political instability in middle east and African nations may cause fluctuation in price of  petroleum  may continue .