Saturday, September 08, 2012

Blog #3- Experts Issue a Warning as Food Prices Shoot Up

A drought over the summer has reduced the amount of agriculture production, according to a recent article in the NY Times. The drought has affected staple crops all over the globe such as corn in the U.S., wheat in Russia and Ukraine, and soybeans in Brazil. As the supply of food decreases the demand will increase and so will the price of food. It is a well known fact that when crop production is low the price of the crop will skyrocket upwards. This is a problem or global challenge that many believe is going to continue due to our changing climate. Agriculture experts have advised for countries to prepare for the rising prices of food so that they may help prevent an increase in global hunger. As a result of the rising food prices, the World Bank and the United Nations food agencies are urging countries to increase the amount of local production and to “invest in safety-net programs for the poor.” If more countries and people were eating and growing more local crops the severity of low crop production and rising food prices would be lessened. The article also discusses how protectionism and panic buying should be avoided because it hurts more people than it helps. This is an issue that will affect every single person on the globe due to globalization and the number of crops that are imported and exported. But it is those who live in developing or poor nations that will suffer the most because they spend the largest percentage of their income on food.

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