Because of rising food prices, the head of the Asian Development Bank called on Monday for an “immediate response”  which is threatening a billion Asians and which will increase a risk of malnutrition.

It is also warned by the head of the bank,Haruhiko Kurodathat,that the food problem could cut into decades of economic gains in the Asia-Pacific region. “These are troubling times for the world economy. And because of this high rise in food price the financial markets and economic slowdown in the US and elsewhere, soaring food prices are hitting the poor very hard,” he said in an inaugural speech to the ADB’s board of governors meeting in Madrid.

This rise in food price has a stark human dimension and has greatly affected over a billion people in Asia and the Pacific alone. Their purchasing power has been eroded placing them at a greater risk of hunger and malnutrition.” He said the stocks of food grains were at the lowest levels for decades.

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