Thread: Global food prices have increased by over 80pc since 2005

Global food prices have increased by over 80pc since 2005

Sunday, April 13, 2008

WASHINGTON: A new world trade deal, more than six years in the making, finally appears to be within reach, but it may not ease raging global food costs that have protesters pouring into the streets from Egypt to Haiti.

On the contrary, many experts expect a new global pact would actually lift food prices slightly, at least at first.

Policymakers plugging the World Trade Organization’s (WTO) Doha round have said closing a deal on the plan to lower farm subsidies and tariffs the world over would stabilize food markets, lock in lower tariffs and spur food production.

If negotiators in Geneva can break a long-standing impasse over subsidies and market access for farm goods, the WTO may call together ministers to seal a deal before President George W Bush leaves office next January.

“The poor need lower food prices now,â€

IMF head gives food price warning

The IMF's Strauss-Kahn wants strong action on food price inflation
The head of the International Monetary Fund (IMF) has warned that hundreds of thousands of people will face starvation if food prices keep rising.

Dominique Strauss-Kahn said that social unrest from continuing food price inflation could cause conflict.

There have been food riots recently in a number of countries, including Haiti, the Philippines and Egypt.

Meeting in Washington, the IMF called for strong action on food prices and the international financial crisis.

Market turmoil

Although the problems in global credit markets were the main focus of the meeting of the IMF's steering committee of finance ministers from 24 countries, Mr Strauss-Kahn warned of dire consequences from continued food price rises.

"Thousands, hundreds of thousands of people will be starving. Children will be suffering from malnutrition, with consequences for all their lives," he told reporters.

He said the problem could lead to trade imbalances that may eventually affect developed nations, "so it is not only a humanitarian question".

Food prices have risen sharply in recent months, driven by increased demand, poor weather in some countries and an increase in the use of land to grow crops for transport fuels.

The steering committee also called for "strong action" among its 185 members to deal with "the still unfolding financial market turmoil and... the potential worsening" of housing markets and the credit crunch.

The finance ministers did not dissent from the IMF's previous forecast that only a moderate slowdown in world economic growth is the most likely outcome over the next year or two.

http://news.bbc.co.uk/2/hi/business/7344892.stm

What I read from this is that "you better not keep trying to create alternatives to oil"

Looks to me like an attempt to slow down biofuel creation.

How much of this global food 'crisis' has been manufactured by the elites to off-set the price of oil?

While millions of Haitians go hungry, containers full of food are stacking up in the nation's ports because of government red tape - leaving tons of beans, rice and other staples to rot under a sweltering sun or be devoured by vermin

.

http://www.alipac.us/ftopict-110654-hai ... +food+rots

True individual freedom cannot exist without economic security and independence. People who are hungry and out of a job are the stuff of which dictatorships are made.
Franklin D. Roosevelt

Let them eat cake