It’s really time now to eat what we grow and grow what
IN January, the United Nations Food and Agriculture Organisation announced that its food price index for December hit an all-time high, and the World Bank’s food price index increased by 15 per cent between October 2010 and January 2011.
The prices of many commodities have surged exponentially to above the peak reached in 2008. Corn is now US$290 per tonne and oil is back above US$100 per barrel. Soaring food and energy prices now pose a threat to the fledgling impetus in the recovery of the world economy.
Increased food prices could aggravate poverty in developing countries like Jamaica, increasing the risks of political and social instability. India, for example, is struggling to cope with an 18 per cent annual food inflation rate.
Another food crisis appears imminent. Finance ministers from the Group of 20 (G20) leading economies met in Paris Friday to discuss the food crisis but failed to devise a plan to address this urgent issue.