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Food production across the world is higher than in the past two years; but export bans worsen the crisis
The G-8 nations, during their recent meeting in Toyakocho, Hokkaido, Japan, have urged nations like Argentina, Egypt, India, Indonesia and Russia to stop restricting food exports. “We will strive to ensure that food, agricultural trade and overall trade policies are conducive to ensuring food security for all. For this purpose, we reaffirm the need to minimise the use of restrictive measures that could increase the volatility of international prices,” an FAO declaration said. This meeting in Japan couldn’t have been more killingly ironical. International economists and global leaders forget (conveniently) that Japan itself has hoarded around 1.25 million tonnes of surplus imported rice, which it is not bringing into the market.
But it is not that Japan alone is to blame (though it takes a considerably large amount of blame). The world has got so engrossed in trying to save itself from artificially raised oil prices that it has closed its eyes to the anguish of hundreds of millions of starving people. In many ways, if the issue of bio-fuel, however hyped or over-hyped, is responsible for the food crisis, then the hoarding of food grains is no less a contributor to the world food crisis. While some countries like Japan are sitting on huge piles of food – using it to make either artificial fuel or simply to hoard the same – the others are facing calamitous situations because they simply have nothing left to eat.
Fear and greed are two factors that are forcing many nations to keep food grains in their warehouses rather than bringing the same to the world market. This is creating a demand supply gap, which is raising prices to unnatural highs, a situation that could well sound the death knell for the poor in Asia and Africa who spend around 50-80% of their income on food. Media reports now reveal that food riots have already caused unrest in over 30 countries including Bolivia, Egypt, Indonesia, Malaysia et al. The situation is getting worse for the United Nations World Food Programme (UNWFP), which is fighting a clearly losing battle to provide food to more than 850 million estimated hungry people worldwide.
And the clear culprit is the concept of export ban, which is currently being exercised in more than 10 countries around the world; and this has also resulted in the cutting off of aid given to destitute people who mainly depend on UNWFP for their daily meal. The good news is that food production this year is expected to be better than in the last two years. But food prices have risen 83% in the last three years. And the ADB warns that, despite production increase, if the export bans are not taken away immediately, the crisis would necessarily worsen! Till then, get your appendix in order; they say the organ could help the human body in digesting grass. Oh, by the way, grass tastes better with pepper, eh!
Shashank Tripathi
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
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Food production across the world is higher than in the past two years; but export bans worsen the crisis
The G-8 nations, during their recent meeting in Toyakocho, Hokkaido, Japan, have urged nations like Argentina, Egypt, India, Indonesia and Russia to stop restricting food exports. “We will strive to ensure that food, agricultural trade and overall trade policies are conducive to ensuring food security for all. For this purpose, we reaffirm the need to minimise the use of restrictive measures that could increase the volatility of international prices,” an FAO declaration said. This meeting in Japan couldn’t have been more killingly ironical. International economists and global leaders forget (conveniently) that Japan itself has hoarded around 1.25 million tonnes of surplus imported rice, which it is not bringing into the market.But it is not that Japan alone is to blame (though it takes a considerably large amount of blame). The world has got so engrossed in trying to save itself from artificially raised oil prices that it has closed its eyes to the anguish of hundreds of millions of starving people. In many ways, if the issue of bio-fuel, however hyped or over-hyped, is responsible for the food crisis, then the hoarding of food grains is no less a contributor to the world food crisis. While some countries like Japan are sitting on huge piles of food – using it to make either artificial fuel or simply to hoard the same – the others are facing calamitous situations because they simply have nothing left to eat.
Fear and greed are two factors that are forcing many nations to keep food grains in their warehouses rather than bringing the same to the world market. This is creating a demand supply gap, which is raising prices to unnatural highs, a situation that could well sound the death knell for the poor in Asia and Africa who spend around 50-80% of their income on food. Media reports now reveal that food riots have already caused unrest in over 30 countries including Bolivia, Egypt, Indonesia, Malaysia et al. The situation is getting worse for the United Nations World Food Programme (UNWFP), which is fighting a clearly losing battle to provide food to more than 850 million estimated hungry people worldwide.
And the clear culprit is the concept of export ban, which is currently being exercised in more than 10 countries around the world; and this has also resulted in the cutting off of aid given to destitute people who mainly depend on UNWFP for their daily meal. The good news is that food production this year is expected to be better than in the last two years. But food prices have risen 83% in the last three years. And the ADB warns that, despite production increase, if the export bans are not taken away immediately, the crisis would necessarily worsen! Till then, get your appendix in order; they say the organ could help the human body in digesting grass. Oh, by the way, grass tastes better with pepper, eh!
Shashank Tripathi
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...
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