For the first time since the time of a severe food crisis in May 8/2012 , global food prices rose sharply in the first quarter of the year .

 

In the report " Monitoring food prices " published quarterly on 29/ 5, the World Bank ( WB ) said the first three months of this year , global food prices have increased by 4 % compared to the same period last year .

 

In particular , wheat prices rose 18 % , corn prices rose 12 % , 6 % soybean oil and sugar increased by 13 % , while prices fell 12 % .

 

Consequently , the index of global food prices in April were only 2 % lower than the same period last year and 16 % lower than the record levels in mid-2012 .

 

According to World Bank experts , there are many reasons for food price volatility , mainly due to reduced grain production because of inclement weather , drought and prolonged heat in the U.S. , while global demand increases high - particularly in China , and the geopolitical changes in the world .

 

In Ukraine - a large bowl of cereal Eastern Europe , wheat prices rose 37 % , while corn prices soared to 73 % , although Ukraine is a major wheat exporter and is the 6th largest corn exporter 3 in the world .

 

Food prices in Eastern European countries increased significantly mainly due to rising production costs , while reducing output . Meanwhile , in the country 's troubled political and economic , food prices have fluctuated sharply . For example in Argentina , wheat prices have increased by 70 % compared with a year ago .

 

In a report published last month , the Food and Agriculture Organization of the UN ( FAO ) warned about rising food prices . FAO says global food prices in the past three months has increased 2.3 % from the previous month - the highest level since May 5/2013 , due to inclement weather conditions and political instability in Ukraine .

 

Experts stressed world food price volatility would threaten the food security of millions of poor people around the world , particularly in vulnerable areas , causing looting food and other social issues . / .

 

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