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Write an article on that ' Price hike is a measure problem of poverty '.
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Write within 150 words don't exceed more than this...
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Answer:
Food prices have been fluctuating wildly over the last four years, hurting both consumers and producers. Changing petroleum prices, crop yields, food stock levels, and exchange rates are the main culprits, but trade policies and a lack of reliable, up-to-date data are also driving the volatility. Policy makers are taking note, as evidenced by French President Nicolas Sarkozy’s decision to prioritize food price volatility on the G20 agenda this year under France’s chairmanship. However, governments in both developed and developing countries must do more to mitigate each of these causes and to help ensure long-term price stability.1
RISING FOOD PRICE VOLATILITY
As shown by the food price index below, compiled by the United Nations’ Food and Agriculture Organization (FAO), food prices have fluctuated wildly over the last four years. The index rose from 122 in 2006 to 214 in June 2008 as the 2007–2008 food price crisis unfolded. The index then fell rapidly in the second half of 2008, reaching 140 in March 2009. In the latter half of 2010, it increased markedly, especially after a severe drought hit Russia, and reached 215 in December, surpassing its 2007–2008 crisis peak.
In what is potentially an even more worrying trend, implied volatility—which represents the market’s expectations of how much the price is likely to move in the future and can only be inferred from the prices of derivative contracts such as options—has been increasing steadily since the mid-1990s. The implied volatilities of three key staple foods—soybeans, maize, and wheat—show a clear upward trend, indicating a steady increase in uncertainty.
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Poverty line or poverty line is the level of income that a person is unable to meet his material needs due to low income. Poverty line varies in different countries. For example, the poverty line in the US is much above the accepted poverty line in India.
Poverty line according to the World Bank - According to the World Bank, the poverty line for developed countries is $ 2 per person per day while for underdeveloped and developing countries it is $ 1.25 per person per day.