| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : International Last Updated: Jul 29, 2009 - 8:22:39 AM


FAO says food prices in many countries remain very high
By Finfacts Team
Jul 29, 2009 - 2:54:16 AM

Email this article
 Printer friendly page

Domestic food prices in developing countries remain high despite a sharp decline in international prices and overall good cereal harvests, The United Nations' Food and Agriculture Organisation (FAO), warns in its latest Crop Prospects and Food Situation report.

The FAO says in several countries, prices exceed the already high levels of a year ago or are still at record levels, creating hardship for millions of people.

In sub-Saharan Africa 80 to 90 percent of all cereal prices monitored by FAO in 27 countries remain more than 25 percent higher than before the soaring food price crisis two years ago. In Asia and Latin America and the Caribbean prices are monitored in a total of 31 countries, and between 40 and 80 percent of these remain more than 25 percent higher than in the pre food-crisis period, according to FAO data.

"The high food price situation continues to give rise to concern for the food security of vulnerable populations in both urban and rural areas, as these groups spend a large share of their incomes on food," FAO said.

In Eastern Africa, in Sudan, prices of sorghum in June were three times higher than two years ago. In Uganda, Kenya and Ethiopia prices of maize have doubled compared to two years ago. In Southern Africa, prices of maize have declined in recent months due to a bumper harvest but remain above the pre-crisis level. In Western Africa, prices decreased in late 2008 following good cereal harvests, but increased again in 2009. In Ghana, prices of maize in Accra have more than doubled since June 2007.

Among the reasons for high food prices, the report listed reduced harvests, higher or delayed imports, civil conflict, strong demand in neighbouring countries and regional trade flows, devaluation of national currencies, changes in food and trade policies, increased incomes and demand, and transport constraints and higher transport costs.

World cereal supply remains satisfactory

The FAO said the outlook for world cereal supply and demand is satisfactory, despite an estimated 3 percent decline in world cereal production in 2009 from the 2008 record level. World cereal production in 2009 is forecast at 2 208 million tonnes, 3.4 percent down from last year's record harvest, but nonetheless the second largest crop ever. Reductions are forecast for wheat and coarse grains.

In Low-Income Food-Deficit countries, prospects for 2009 cereal crops are generally favourable and aggregate production is forecast to increase for the second consecutive year. However, the outlook is uncertain in parts of Western and Eastern Africa as well as in Asia reflecting an erratic start of the rainy season.

30 countries in crisis

Despite a positive outlook for global cereal supplies, the FAO says 30 countries around the world are in crisis and require assistance as a result of natural disasters, conflict or insecurity, and economic problems.

A World Food Summit is to be held at FAO Headquarters in Rome from 16-18 November, 2009, with the aim of securing a broad consensus on the eradication of hunger, on improved governance of the international agricultural system and on policies and programmes to ensure world food security.

Related Articles
Related Articles


© Copyright 2009 by Finfacts.com

Top of Page

International
Latest Headlines
Wednesday newspaper review: December 17, 2014
Tuesday newspaper review: December 16, 2014
Monday Newspaper Review - Irish Business News and International Stories - - December 08, 2014
Friday Newspaper Review - Irish Business News and International Stories - - November 28, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - November 27, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - November 25, 2014
Friday Newspaper Review - Irish Business News and International Stories - - November 21, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - November 20, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - November 19, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - November 18, 2014
Monday Newspaper Review - Irish Business News and International Stories - - November 17, 2014
Friday Newspaper Review - Irish Business News and International Stories - - November 14, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - November 13, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - November 12, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - November 11, 2014
Monday Newspaper Review - Irish Business News and International Stories - - November 10, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - November 06, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - November 04, 2014
Monday Newspaper Review - Irish Business News and International Stories - - November 03, 2014
Friday Newspaper Review - Irish Business News and International Stories - - October 31, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - October 30, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 29, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - October 28, 2014
Friday Newspaper Review - Irish Business News and International Stories - - October 24, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 22, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - October 21, 2014
Monday Newspaper Review - Irish Business News and International Stories - - October 20, 2014
Friday Newspaper Review - Irish Business News and International Stories - - October 17, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - October 16, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 15, 2014
Monday Newspaper Review - Irish Business News and International Stories - - October 13, 2014
Friday Newspaper Review - Irish Business News and International Stories - - October 10, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - October 09, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 08, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - October 07, 2014
Monday Newspaper Review - Irish Business News and International Stories - - October 06, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - October 02, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 01, 2014
Monday Newspaper Review - Irish Business News and International Stories - - September 29, 2014
Friday Newspaper Review - Irish Business News and International Stories - - September 26, 2014