FOOD EMERGENCY: The U.N. chief announced yesterday that soaring global food prices may cause economic, social and political crises throughout the world.

At the U.N. Conference on Trade and Development yesterday, U.N. Secretary Ban Ki-moon blamed the global food crisis on rising oil costs, the falling US dollar and natural disasters. The crisis could reverse eight years of progress toward cutting poverty in half by 2015.

Rising Food Prices

Global food production is down while cost is way up. Food prices have risen 40% since mid-2007, a total increase of 83% over the last three years.

Developing nations that increasingly cannot afford staple foods face the highest risk. Since 2005, wheat prices doubled while corn, soya and oilseeds are at record highs.

In its Millennium Development Goal, the U.N. had proposed cutting world poverty in half by 2015. Now, with the global food crisis, progress toward that goal may be reversed.

"We risk going back to square one," said Ban, "and we need to redouble efforts or betray the promises that we made to our people."

Developing World Suffers Most

World Bank President Robert Zoellick estimates that soaring food prices may send 100 million people into poverty in developing countries. With this in mind, the U.N. World Food Program (UNWFP) plans to raise $750 million each year in emergency aid to help feed 73 million people in 80 countries.

But what about the other quarter-million people? The UNWFP warns, unless individual governments donate more money to buy food for their countries, the agency may need to make "heartbreaking" decisions about which countries will receive its help.

The food crisis affects the entire world economy, but poverty-stricken developing nations will feel it the most. Already, riots over food shortages have broken out in Egypt, Ivory Coast, Senegal, Yemen and Mexico. Other countries like Pakistan, Russia, Indonesia and India have begun food saving programs, including rationing, price freezes, subsidy increases, and export bans.

Copyright © 2008 Informify

Sources

"Food crisis threatens security, says UN chief" (Guardian)

"UN chief warns world must urgently increase food production" (AP)

"Food price hikes may hit world growth, security: Ban" (Reuters)

Question for Readers:

Do you feel the U.S. government should contribute to the World Food Program to end hunger in developing nations while American children go hungry here at home?