global food price index was up 36% in March

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global food price index was up 36% in March

posted on Apr 14, 2011 04:06PM

NEW YORK (CNNMoney) -- As global food prices rise near record highs, the World Bank warned Thursday that further spikes could push millions more people deeper into poverty.

The organization that loans money to developing nations said its global food price index was up 36% in March from levels a year earlier. The increase was driven by sharp boosts in prices for corn, wheat, soybeans and other staples.

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