While global food prices declined for the first half of this year, they have spiked in recent months, according to a new World Bank publication, and this volatility could in turn push up the local food prices of the world's poorest and most malnourished countries. The Bank's grain price index had declined by 16 percent over the first six months of 2010 before rising that same amount between mid-June and August....
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The backlash begins against the world landgrab by Ambrose Evans-Pritchard
The neo-colonial rush for global farmland has gone exponential since the food scare of 2007-2008. Last week's long-delayed report by the World Bank suggests that purchases in developing countries rose to 45m hectares in 2009, a ten-fold jump from levels of the last decade. Two thirds have been in Africa, where institutions offer weak defence. As is by now well-known, sovereign wealth funds from the Mid-East, as well as state-entities from China,...
More »Number of hungry people in the world drops for the first time in 15 years: FAO by Amulya Nagaraj
The number of hungry people in the world dropped about 10 percent for the first time in 15 years to below 1 billion but the figure is still "unacceptable," the UN Food and Agriculture Organization (FAO) said in a report. According to a report titled "The State of Food Insecurity in the World," which will be jointly published by FAO and World Food Program (WFP) in October, about 925 million people...
More »How to rebuild confidence in food markets after this summer’s spike in wheat prices
REGULARITY and repetition—of returning rains, of seasonal temperatures, of the cycles of life and death—are the essence of agriculture. So perhaps it is not surprising when events recur. In 2007-08, food prices soared. Mozambique and 30 poor countries endured food-price riots. Russia led a procession of grain exporters to restrict sales. And the world had to face up to changes in the pattern of food demand, reversing decades of declining...
More »Volatile wheat prices are as much a cause for alarm as are high prices
FEW rural pleasures match seeing a golden field of grain, rustling and ripe for reaping. But the harvest season in the northern hemisphere is being marked by turmoil on global wheat markets. A big reason is to be found in one of the world’s largest wheat exporters, Russia. Hit by fires and drought which have wiped out a third of the grain crop, the authorities there have banned exports, first temporarily...
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