The World Bank said the rising food prices have driven an estimated 44 million people into poverty in developing countries since last June as food costs continue to rise to near 2008 levels.  Robert Zoellick, president, World Bank Group, said “global food prices are rising to dangerous levels and threaten tens of millions of poor people around the world.” He added that the price hike is already pushing millions of people into poverty and putting stress on the most vulnerable which spends more than half of their income on food. However, in the latest edition of Food Price Watch released by World Bank, food price index rose by 15 per cent between October 2010 and January 2011, which is 29 per cent above its level a year earlier, and is only three per cent below its 2008 peak.
Among grains, global wheat prices have raised the most, doubling between June 2010 and January 2011. Maize prices are about 73 per cent higher, but crucially for many of the world’s poor, rice prices have increased at a slower rate than other grains. Sugar and edible oils have also gone up sharply. Other food items essential for dietary diversity in many countries have increased, such as vegetables in India and China, and beans in some African countries. 
 The bank’s publication shows that the increase in extreme poverty (under $1.25 a day) due to the price hike is associated with higher malnutrition, as poorer people eat less and is forced to buy food that is both less expensive and less nutritious.
Meanwhile, the World Bank’s Global Food Crisis Response Programme (GFRP) is helping some 40 million people in need through $1.5 billion support. To date, over 40 low income countries are receiving or will receive assistance through new and improved seeds, irrigation, and other farm support and food assistance for the most vulnerable people.