The World Bank estimates that food prices have soared about 37% year-over-year, as it warns that millions of people are being pushed into poverty.
Not only are food prices rising now, but harvests in the future could be reduced because of the spiking costs of fertilizers, World Bank President David Malpass said Tuesday. Beth Dunford, a vice president for agriculture at the African Development Bank, estimated that fertilizer prices have doubled on the African continent — and there is also a shortfall.
Food prices up 37%, middle-income nations in crosshairs: World Bank | Devex