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April 1998

Food price crisis tops agenda at UN trade conference

Xinhua
April 22, 2008

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BEIJING, -- The issue of feeding the world's population at a time when there has been a surge in global food prices is top on the agenda of the ongoing 12th session of the United Nations Conference on Trade and Development (UNCTAD).

Concerns are mounting over soaring food prices worldwide, which have even triggered riots and threaten hunger in dozens of countries, such as Haiti, Egypt and the Philippines, analysts said.

The rising food prices have also prompted UN Secretary-General Ban Ki-moon, who attended the opening session of the five-day UNCTAD conference which opened in Ghana's capital Accra on Sunday and brings together more than 3,000 delegates from 193 nations, to issue a warning that UNCTAD "could not have come at a more crucial time." World leaders, international organizations as well as commentators all warn that it could have grave implications for international security, economic growth and social progress.

RISING FOOD PRICES WORRYING The food price rises virtually started in 2002, but have accelerated in the past few years, especially since August 2007.

In 2007 alone, international grain prices soared by 42 percent.

According to a latest World Bank report, global wheat prices have jumped 181 percent over the last three years, with overall food prices up 83 percent.

The UN Food and Agriculture Organization (FAO) also estimated that a total of 37 countries currently face food crises.

In Asia, the soaring rice price is putting government leaders under intense pressure as there have been increased strikes and protests to press the demands for pay hikes to keep up with the rising costs of living.

In Africa, food riots have occurred in a number of countries.

The euro zone is experiencing high inflation.

"This is a worrisome situation as it poses a threat to the stability of many developing countries," Ban said upon arrival late Saturday ahead of the UNCTAD conference, adding that the hardest hit were those left behind by globalization.

"Concerted international action is urgently needed to tackle this issue," he said, adding: "UNCTAD's mandate is more important than ever in this context of deepening interdependence." UNCTAD Secretary-General Supachai Panitchpakdi shared similar views.

"The conference takes place amid much uncertainty about world economic prospects, with continued instability on financial markets and slowing growth in the industrialized world." "If not handled properly, this (food) crisis could trigger a cascade of others and develop into a multiple crisis, becoming a multi-dimensional problem affecting economic growth, social progress and even political security around the world," Ban said while addressing the conference.

CAUSES OF FOOD PRICE RISES It is widely believed that natural disasters, a growing demand for food worldwide, coupled with market speculation, surging oil prices and the expansion of bio-fuels, are pushing food prices up.

According to the World Food Program (WFP), 57 countries, including 29 in Africa, 19 in Asia and nine in Latin America, have been hit by catastrophic floods.

Harvests have been affected by drought and heat waves in a number of countries and regions.

A growing global population has also contributed to the increasing demand for food.

There are 854 million people living in hunger in the world, with 4 million more joining their ranks annually, the WFP said earlier.

In addition, analysts have attributed the food crisis to the surging oil prices, which they say have raised the cost of farm production in its various phases.

The expansion of biofuels, especially corn for ethanol, is another factor many blame for the price hikes, although some insist that it just serves as a scapegoat.

POSSIBLE SOLUTIONS

Many participants at the current UNCTAD meeting believed that cooperation among countries in efforts to increase aid for agriculture and abolish rich-nation subsidies is of vital importance to finding a long-term solution to the food price crisis.

Global food production needs to be increased urgently to ease skyrocketing world food prices that could destabilize developing nations, particularly in Africa, Ban said.

Ghanaian President John Kufuor, whose country is among the worst affected West African countries by rising food prices, expressed the hope that the conference would allow developing countries to strengthen economic cooperation and trade, and increase pressure on rich countries to end agricultural subsidies which worsened poverty in Africa.

Brazilian President Luiz Ignacio Lula da Silva Enhanced Coverage LinkingLula da Silva -Search using: Biographies Plus News News, Most Recent 60 Days also called for strengthened cooperation between developing countries themselves as well as that between the developed and developing countries.

All countries should wrap up negotiations for a global trade pact in a bid to boost the world economy and promote development, according to Lula.

Lula renewed a call he made earlier for the richest nations to stop subsidizing their farmers and to open market access to agricultural products form the developing world.

UNCTAD chief Panitchpakdi also joined the chorus of appeals for increased agricultural aid and the abolition of rich-nation subsidies.

A disproportionate amount of aid had been spent on governance initiatives in the developing world in recent decades while agriculture had been neglected, he said, adding that urgent actions were needed to provide food aid to pockets of the world where there were shortages.

The world community should pay greater attention to the possible consequences brought about by the price hikes and beef up aid for those most needy countries in Africa, Latin America, the Caribbean and Asia, said Jacques Diouf, director general of FAO.

Meanwhile, Ban pledged to use the full force of the world body to tackle the price rises. "I will immediately establish a high-powered task force comprised of eminent experts and leading authorities to address this issue."

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