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26 Oct 2010 description

Summary

From January to the end of September 2010, CERF has allocated over $372 million, more than the historical annual average of $355 million. During the third quarter of 2010, CERF allocated $90 million. Given funding levels of previous years, CERF disbursements for 2010 will likely pass the $400 million mark by the end of the year.

The second round of underfunded allocations for 2010 has been completed.

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.