FoodUN warns record food prices to continue

Food prices are projectedto continue skyrocketing and remain volatile leaving poor countries and consumers exposed to food insecurity, according to a recently released UN report.

The report, jointly released by the UN Food and Agriculture Organization (FAO), International Fund for Agricultural Development (IFAD), and World Food Program (WFP) found that increases in demand and decreased production have made food prices even more volatile.

In particular, population growth and the use of biofuels have placed an even greater strain on existing food supplies.

“Demand from consumers in rapidly growing economies will increase, the population continues to grow, and further growth in biofuels will place additional demands on the food system,” the report said.
Volatility in food price is expected to increase over the next ten years due to closer ties between agricultural and energy markets as well as more frequent extreme weather events.

The FAO estimated that in 2010 roughly 925 million people around the world went hungry, up from 850 million in 2008.

Small, poor countries, particularly in Africa, will be at greatest risk and many countries there are still struggling with the lingering effects of the food shortages and global recession of 2006 to 2008.

To help alleviate food shortages and price volatility, the report recommends long-term investment in agriculture for projects like cost-effective irrigation, improved land-management practices, and better seeds developed through agricultural research. 

In a joint statement, the heads of FAO, IFAD, and WFP said, “The entire international community must act today and act forcefully to banish food insecurity from the planet.”

“More sustainable management of our natural resources, forests and fisheries are critical for the food security of many of the poorest members of society.”