Given the rise in food prices over the past several months, the United States is working with the international community to help meet the needs of vulnerable populations and to promote policies that encourage agricultural growth and mitigate price volatility. Based on lessons learned from the global food price crisis in 2007-2008, we know that sound policies -- such as abstaining from export bans and increasing transparency on stocks and production -- can help contain food price increases. In contrast to 2007-2008, there have been good harvests in Africa and Latin America, and rice production is at record levels. While taking productive measures in the coming months, the global community must also redouble its commitment to long-term efforts to increase agricultural productivity, connect farmers to markets, facilitate trade, and reduce undernutrition. In response to the 2007-2008 crisis, President Obama pledged $3.5 billion to sustainable agricultural development and led a multilateral effort to reverse the decades-long trend of underinvestment. The United States will continue to watch the situation closely and prioritize action that contributes to creating a more food-secure world.
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