While the soaring food prices that sparked riots in many countries are no longer in the headlines, the global food system is still in turmoil. Experts say last year’s food crisis was simply a wake-up call, signalling a new era in which rising prices, increasing volatility and growing food insecurity present daunting challenges for policymakers and development organisations.
“Even though prices have come down from last year, they’re still at levels significantly higher than the averages in the 1990s,” says Oscar Chemerinski, director of global agribusiness at the International Finance Corporation, part of the World Bank Group. “Volatility will continue and prices will remain higher than the historical levels we’ve seen in the past two or three decades.”
