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22 May 2009 description

Note: The last situation report was dated May 8, 2008.

BACKGROUND

Between March 2007 and March 2008, global food prices increased an average of 43 percent, according to the International Monetary Fund. During that time period, wheat, soybean, corn, and rice prices increased by 146 percent, 71 percent, 41 percent, and 29 percent, respectively, according to the U.S. Department of Agriculture. Rising food prices contributed to a significant increase in food insecurity worldwide, particularly among poorer populations.