Food prices worldwide will double by 2030, says Oxfam

May 31, 2011 4:46 AM EDT

Food prices will double by 2030 worldwide with poor nations already struggling to feed their citizens, international charity group Oxfam said on Tuesday.

"It's not just drought, or famine, or a bad harvest. A whole host of interlinked factors are stopping nearly 1 billion people worldwide from having enough to eat," it texted on its site.

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According to Oxfam, which has warned leaders to regulate food markets, one in every seven people sleeps hungry in the world.

"One in seven people on the planet go hungry every day despite the fact that the world is capable of feeding everyone," Barbara Stocking, Oxfam's chief executive, was quoted as saying by BBC.

Climate change, land grabs as well as intensive farming are among many factors that will lead to Hike in food prices, Oxfam forecasts, in its latest report on food crises.

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The average cost of key crops will increase by 120 to 180 percent in the next two decades, the watchdog predicts, calling on governments worldwide to reform food system.

"The food system must be overhauled if we are to overcome the increasingly pressing challenges of climate change, spiraling food prices and the scarcity of land, water and energy," said Stocking.

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