Food Price Watch--World Bank
""Global food prices continue to rise. The World Bank’s food price index increased by 15% between October 2010 and January 2011 and is only 3% below its 2008 peak. The last six months have seen sharp increases in the global prices of wheat, maize, sugar and edible oils, with a relatively smaller increase in rice prices. Higher global wheat prices have fed into significant increases in local wheat prices in many countries. Higher maize, sugar, and oil prices have contributed to increase the costs of various types of food, though local maize prices have largely been stable in Sub- Saharan Africa. Local rice prices have increased in line with global prices in some large rice-consuming Asian countries. These food price rises create macro vulnerabilities, particularly for countries with a high share of food imports and limited fiscal space, as well as increases in poverty. Estimates of those who fall into, and move out of, poverty as a result of price rises since June 2010 show there is a net increase in extreme poverty of about 44 million people in low- and middle-income countries. In the immediate term, it is important to ensure that further increases in poverty are curtailed by taking measures that calm jittery markets and by scaling up safety net and nutritional programs. Investments in raising environmentally sustainable agricultural productivity, better risk-management tools, less food intensive biofuel technologies, and climate change adaptation measures are all necessary over the medium term to mitigate the impact of expected food price volatility on the most vulnerable.""
First I would just like to say that it is spelled "disproportionately". You would think they would spell check these things... Anyway, I was reading an article about predictions of what the world will be like in 2030 and one prediction was that there would be virtually no poverty.. which I thought was quite shocking. It said that poverty was decreasing at a fast enough rate to assume so, but with growing world population and with food scarcities such as this, its hard to believe.
ReplyDeleteJoey...The spelling error was mine. In a hurry, I guess! :)
ReplyDeleteHahaha no I know I was just joking with you
ReplyDeleteI actually read an article that talked about how this increase in food prices offers profit potential. In contrast to your article it discussed how in reality the market feeds off current events, whether they are good or bad, and how this food price increase has caused the demand for agricultural commodities and stocks to be higher than they have in a while. It's just a more positive way to look at the outcome of the rising food price situation. And wow Joey way to be rude and call out spelling. At least he takes time out of his day to post creative and educational articles such as these. Thank you Mr. Hayward.
ReplyDeleteIt's difficult for me to imagine living in a situation where food prices determine my livelihood. It shows a stark contrast between the United States and the Third World when poverty rises by 44 million globally due to a 15% increase in food prices. In America, that just means less trips to Walmart. Around the world, it's devastating.
ReplyDeleteKorina, don't take spelling lightly. It's a serious issue.