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High food prices till 2012: Zoellick

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Reuters Posted: Jul 13, 2008 at 0026 hrs IST
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Amsterdam: : World Bank president Robert Zoellick said on Saturday he expected food prices to remain above the 2004 levels until at least 2012 and said energy prices would also remain high and volatile. He repeated that with food and fuel prices in a “danger zone”, there was a need for $10 billion to provide food and cash handouts for the world’s poorest. Soaring Oil and food prices have fuelled Inflation across the globe at the same time as economies slow, posing a sharp dilemma for policymakers.


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