An Asian Development Bank report called Living with High Prices says the soaring price of oil is already a concern in the Pacific, but the recent surge in world food prices has yet to be fully felt in the region.
Pacific Magazine reports that the Bank is saying this lag between developments in mainland Asia and retail outlets in the Pacific provides a small window of opportunity to get ready for high food prices.
It has prepared a study aimed at helping regional governments manage the adjustment to high prices.
The Director General of the ADB's Pacific Department, Philip Erquiaga, says good government policy will maximize the gains from high export prices and minimize the losses from higher prices of oil, rice and wheat.
The study estimates that another five percent of Pacific low income households could slip into poverty this year.
