World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Drop In Food Prices, Need for Policies to Prevent Crisis

UN Reports Slight Drop In Food Prices, Stresses Need for Policies to Prevent Crisis

New York, Nov 8 2012 - The United Nations today reported that global food prices decreased slightly in October, noting that international coordination has helped avert a sharp rise in prices despite difficult market conditions.

The UN Food and Agriculture Organization’s (FAO) Fo od Price Index dropped one per cent from September. The decline from 215 to 213 points was largely due to lower international prices of cereals and oils and fats, the agency said in a news release.

The Index measures the monthly change in international prices of a basket of 55 food commodities, including meat, dairy, sugar, and cereals. The prices for cereals also increased slightly, while sugar and oils prices fell.

Lower international prices and freight rates this year, along with lower cereal purchases, are also expected to push down the total costs of world imports this year. FAO’s Food Outlook global market report, also published today, estimates that the global expenditure on food imports will stand at $1.14 trillion in 2012, 10 per cent lower than last year.

“Despite tight markets, a set of conditions and measures have so far stopped international food prices from spiralling up as they did in 2007-2008 and 2009-2010,” said FAO Director-General José Graziano da Silva. He added that policies such as those put in place by the Group of 20’s Agricultural Market Information System (AMIS) have helped prevent panic and “stop the worst drought in decades [from] turning into a food price crisis as has happened in the past.”

According to its website, the AMIS initiative seeks to enhance food market transparency and encourage coordination of policy action in response to market uncertainty, mainly focusing on four foods that are particularly important in international markets: wheat, maize, rice and soybeans. AMIS has its Secretariat at FAO Headquarters in Rome, Italy.

“Droughts or floods are not what cause crises, it is lack of governance,” Mr. Graziano da Silva said. “In a globalized world, we cannot have food security in only one country or in one region. We need to strengthen the global governance of food security.”

The Food Outlook, which is published biannually, also warns that cereal production is forecast to fall by 2.7 per cent, leading to a 25 million ton contraction in world stocks. Meanwhile, rice production this year may surpass last season’s record, which is mainly due to favourable growing conditions.

World sugar production is also forecast to reach a new record as large export availabilities in key supplying countries, along with a rebuilding of sugar inventories in major importing countries, are expected to boost trade in the 2012- 2013 season.

Meat prices remained unchanged, FAO said, while dairy prices experienced a 3 per cent increase over the past month due to low stocks and an increasing demand. The agency said milk prices in particular, could increase further because of lack of substantial growth in output in the main exporting countries.

For more details go to UN News Centre at http://www.un.org/news

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Myanmar Election: UNICEF Urges Prioritisation Of Children

With 99 days to go before Myanmar elections, UNICEF urges candidates make children the clear winner More>>

Liberia Thousands Of Unregistered Children Born During Ebola Crisis

Thousands of unregistered children born in Liberia during Ebola crisis at risk of exploitation – UNICEF More>>

UN Refugee Agency Envoy Angelina Jolie Visits Myanmar

UNHCR Special Envoy Angelina Jolie Pitt (left) in Myitkyina township, Kachin State, Myanmar, meeting with some of the 100,000 displaced people who currently live there. Photo: UNHCR/T.Stoddart More>>

As Health Needs Rise In Somalia, Funding Hits New Low

As health needs rise in Somalia, funding hits new low, cutting off 1.5 million from care – UN More>>

Need To End Violence Against Children In Conflict

‘We should be outraged’ more not being done to end violence against children in conflict – UNICEF chief More>>

On Mandela Day, UN Joins Call To Promote Community Service

Nelson Mandela, then Deputy President of the African National Congress of South Africa, raises his fist in the air while addressing the Special Committee Against Apartheid in the General Assembly Hall. UN Photo/P. Sudhakaran More>>

Some $3.2 Billion Needed For Ebola Recovery Efforts

Some $3.2 billion needed for Ebola recovery efforts in Guinea, Liberia and Sierra Leone – UN More>>

World Day: UN Spotlights Plight Of Vulnerable Populalations

Syrian refugees fleeing the fighting near the Syrian city of Kobani wait in a holding area before boarding buses in Turkey (September 2014). Photo: UNHCR /I. Prickett More>>

Afghanisatan: Direct Talks Between Government And Taliban

The United Nations Security Council has welcomed the recently held direct talks between Afghan Government and Taliban representatives as a step towards “peace and reconciliation” in the region. More>>

Eradicating World Hunger By 2030

Agriculture workers collect carrots on a farm in Chimaltenango, Guatemala. Photo: World Bank/Maria Fleischmann More>>

Bangladesh: Flood Leads To UN Agency Providing Food Relief

Anwar Hossain unloads cartons of High Energy Biscuits from a pickup truck and transfers them to a distribution center in Kawar Khop union, Ramu upazila, Cox’s Bazar, Bangladesh. Photo: WFP/Kamrul Mithon More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news