HOT SUMMER SENDS FOOD PRICES SOARING ACROSS THE WORLD

HONG KONG - A summer of droughts and extreme temperatures across the world threaten the planet's most vulnerable people, as food prices rise.
The drought-hit United States -- the world's largest exporter of grains such as maize -- is facing the worst production shortfalls since the "Dust Bowl" of the 1930s, while a scorching summer in Russia, Ukraine and Kazakhstan hit wheat supplies, according to Food Price Watch.
A new report from the World Bank has revealed global food prices soared by 10% in July, with staples such as maize and soybean increasing by 25% to an all-time high.
Overall, the World Bank's Food Price Index, which tracks the price of internationally traded food commodities, was 6% higher than in July of last year, and 1% over the previous peak of February 2011.
"Food prices rose again sharply threatening the health and well-being of millions of people," said World Bank Group President Jim Yong Kim.
Africa and the Middle East are particularly vulnerable, but so are people in other countries where the prices of grains have gone up abruptly.
The World Bank points to a worrying trend in domestic prices in some of the world's poorest countries -- Mozambique saw the price of maize increase by 113% in the last quarter, while the price of sorghum rose by a staggering 220% in South Sudan.

Source: CNN...more..