Rising trade tensions drove the FAO Food Price Index down slightly in June. The 1.3-percent decline represents the first month-to-month drop since the beginning of 2018.

The Cereal Price Index fell by 3.7 percent but remains almost 8 percent higher than its June 2017 level. In June, wheat and maize prices fell sharply as a result of trade tensions, despite poor production prospects in many areas. Rice prices, on the other hand, rose based on tight supplies for some varieties.

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Over 1,000 participants from more than 100 countries gathered in Berlin on May 28 and 29 for the 2018 Global Solutions Summit. The event, associated with the T20 (an engagement group of global think-tanks supporting the G20 process), brought together policymakers, private sector actors, and global thought leaders to discuss solutions to pressing global challenges like hunger and poverty, climate change, rapid globalization, economic and societal inequality and the erosion of democratic values.

Long term scenario analysis based on simulations generated through IFPRI's IMPACT model

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If we want to eradicate poverty, we need gender equality.

In May, the FAO Food Price Index reached its highest level since October 2017. This month’s increase was driven by dairy and cereal prices. The Index has risen continually in 2018.

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The FAO Food Price Index remained nearly unchanged in April; however, cereal and dairy prices continued to rise.

The Cereal Price Index rose 1.7 percent from March, reaching almost 16 percent higher than its April 2017 levels. This is the fourth consecutive month of such increases, which are being driven largely by weather-related fears for wheat and maize and government purchases in Indonesia and the Philippines for rice.

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Global wheat and maize prices rose for the third consecutive month in March, according to the latest FPMA Bulletin from FAO. This increase brings prices more than 10 percent above their December 2017 levels.

Prolonged dry weather in the United States drove much of the price increases for wheat, as did concerns about cold and wet weather in some parts of Europe. Dry weather in Argentina contributed to maize price increases. Global demand for these commodities also remained strong in March, further driving up prices.

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The FAO Food Price Index rose by 1.1 percent in March, marking the second consecutive month of increases. Cereal and dairy prices drove the price increase, while the prices of sugar and vegetable oils fell slightly. The Index for March 2018 is 0.7 percent above its year-earlier level.

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By Shenggen Fan
This piece was originally published on the GlobalDev blog.

The world’s urgent humanitarian assistance needs continued to grow in 2017, according to the 2018 Global Report on Food Crises. An estimated 124 million people across 51 countries currently face crisis-level or worse food insecurity, up from 104 million people across 48 countries in 2016.

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