More Take Measures to Combat Food Crisis
Posted on: Tuesday, 6 May 2008, 03:00 CDT
UNITED NATIONS
BERN, Switzerland - The United Nations will establish a top- level task force to tackle food shortages and escalating prices that threaten to touch off a "cascade of related crises" around the world, Secretary-General Ban Ki-moon said Tuesday.
Mr. Ban, who will lead the task force, said the group agreed on a series of measures for the medium and long term, with its first priority to meet the $755 million shortfall in funding for the World Food Program. Even if the shortfall is met, more money probably will be needed, he said.
Mr. Ban said high food prices "could touch off a cascade of related crises - affecting trade, economic growth, social progress and even political security around the world."
He blamed the escalating prices on a range of factors - high oil prices, growing demand, bad trade policies, bad weather, panic buying and speculation, along with "the new craze of biofuels derived from food products."
- Associated Press
ETHANOL PRODUCTION
WASHINGTON - Grocers and food companies are seeking the help of Congress as they square off against farmers over the role of ethanol production in pricier staples at home and riots abroad.
The American Farm Bureau Federation and other farm groups plan to defend government support for ethanol, which they say has helped lower gas prices, in two press conferences scheduled for Wednesday.
Trade groups such as the Grocery Manufacturers of America, meanwhile, argue that increased production of corn for ethanol has driven up prices for corn, wheat and other grains. Those increases, in turn, have boosted prices for bread, meat and dairy products.
Congress' Joint Economic Committee will hear from both sides of the fence Thursday, while a House Energy and Commerce subcommittee will hold a hearing on government ethanol policies May 6.
President Bush weighed in on the issue Tuesday. At a press conference on the economy, he defended increased ethanol production, saying, "it's in our national interest that our farmers grow energy, as opposed to us purchasing energy from parts of the world that are unstable or may not like us."
IN VIETNAM
HO CHI MINH CITY, Vietnam - Vietnam has tumbled into "rice fever" - a dangerous brew of skyrocketing prices, perceived shortages, hoarding, panic buying and government intervention. The food crisis has swept through dozens of countries this year, sparking riots and unrest.
Rice prices in Vietnam have soared in recent days, with some shops doubling their prices. Many rice merchants and producers have responded by stockpiling supplies and refusing to sell, while some rice shops have closed temporarily and other retailers have seen their supplies dwindle or disappear. It's being called the worst rice crisis in Vietnam in the past 20 years.
The paradox is that Vietnam is one of the world's greatest rice producers. This heavily agricultural country is the second-biggest rice exporter in the world, usually providing 20 percent to 25 percent of the global supply of internationally traded rice.
The Vietnamese government is desperately trying to control the rice crisis by releasing new supplies and vowing severe punishment for speculators. In a bid to protect its domestic supply, Vietnam has cut back on its rice exports, causing further damage to the global food supply.
Source: Augusta Chronicle, The
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