Paris, (Agencies): Finance ministers of 20 most countries will discuss ways to deal with rising energy cost and food prices moving to "dangerous levels", at their two-day meeting which began here on Friday.

"International commodity prices are rising. Food situation is a major issue which is going to affect the international economy and trade. (It) is going to be discussed," Finance Minister Pranab Mukherjee said ahead of the G-20 ministerial meeting here.

Mukherjee and finance ministers of rich and developing countries such as China, Brazil, Russia, the US, Japan, Germany and UK are meeting at a time when increasing food and crude oil prices have replaced currency war and the bail-outs, as the burning issues, as highlighted by the World Bank.

The World Bank report said that about 44 million people in developing countries have slipped into poverty on account of soaring prices of food items.

Governments in several countries are battling food inflation, which in India remains in double digit despite moderation in recent weeks.

The G 20 countries collectively account for 85 per cent of the global output and two-third of the world population.