Global Food Crisis 2008

Posted by: | Posted on: August 7, 2008

Food prices have been rising for a while. In some countries this has resulted in food riots and in the case of Haiti where food prices increased by 50-100%, the Prime Minister was forced out of office. Elsewhere people have been killed, and many more injured. While media reports have been concentrating on the immediate causes, the deeper issues and causes have not been discussed as much.

The World Bank reports that global food prices rose 83% over the last three years and the FAO cites a 45% increase in their world food price index during just the past nine months. The Economist’s comparable index stands at its highest point since it was originally formulated in 1845. As of March 2008, average world wheat prices were 130% above their level a year earlier, soy prices were 87% higher, rice had climbed 74%, and maize was up 31%.

Dairy, oils & fats, and cereals have risen the most in the past year, with more modest rises in sugar and meet

The food crisis appeared to explode overnight, reinforcing fears that there are just too many people in the world. But according to the FAO, with record grain harvests in 2007, there is more than enough food in the world to feed everyone—at least 1.5 times current demand. In fact, over the last 20 years, food production has risen steadily at over 2.0% a year, while the rate of population growth has dropped to 1.14% a year. Population is not outstripping food supply. “We’re seeing more people hungry and at greater numbers than before,” says World Hunger Program’s executive director Josette Sheeran, “There is food on the shelves but people are priced out of the market."

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One Comment to Global Food Crisis 2008

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