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Food Price Volatility

In 2007-2008, as world cereal prices peaked (rising by as much as 87%), global food stocks plummeted to levels not seen in two decades. Coupled with the global economic slowdown, surging food prices pushed an estimated 100 million more people into hunger, raising the total number of undernourished people globally to over 1 billion.

ADB economists predict that a 10% rise in domestic food price inflation in developing Asia could push 64 million more Asians into poverty. These unprecedented global food price surges expose vulnerabilities to food and nutrition insecurity not only of the region's households but also of its governments.