"We're extremely concerned about rising food prices in particular because of their impact on the poorest and most vulnerable wherever they are, particularly in the low-income countries but not only there," fund spokeswoman Caroline Atkinson said at a news briefing.

Asked how governments should address soaring food prices, which according to the UN have hit record highs, Atkinson stressed the importance of "well-targeted" ways of supporting those most at risk.

"It's important that people who are most vulnerable should be protected rather than products subsidized," she said.

The UN's Food and Agriculture Organisation said Thursday its Food Price Index rose in February to the highest level since FAO began monitoring prices in 1990.