The World Is Awash With Food
By Paul Homewood
Flashback – March 2014 and the ever reliable Guardian!
Climate change has already cut into the global food supply and is fuelling wars and natural disasters, but governments are unprepared to protect those most at risk, according to a report from the UN’s climate science panel.
Now fast forward to today:
Piles of unwanted grain on farms near Doug Schmitz’s storage bins in southern Minnesota are a stark reminder of just how bearish the outlook is for U.S.crop prices.
After record yields during the harvest a few months ago, growers in the area still have 80 percent of their corn crop left to sell and 70 percent of soybeans, said Schmitz, who operates four grain elevators and markets to processors and exporters. Normally, half the supply would be unloaded by now, he said. While Schmitz Grain Inc. is under contract to collect 2 million bushels from local farmers, the outlook is so dim that most of that inventory hasn’t been priced yet, he said.
ROME: International food prices dipped by 19 per cent in the last year, the fourth consecutive annual fall, due to substantial decline in dairy, sugar and veg oil prices according to the United Nations food agency.
The maximum fall was witnessed in dairy prices, which fell by 28.5 per cent compared to 2014, marking its lowest since 2009. It was followed by sugar prices, which were down by 21 from 2014 levels, as per the FAO price index.
Similarly vegetable oil prices also came down last year by 19 per cent in comparison to 2014 prices, while cereal prices fell by 15.4 per cent in 2015. The meat prices also came down by 15.1 per cent in the last year.
Abundant supplies in the face of a timid world demand and an appreciating US dollar are the main reasons for the general weakness that has dominated food prices in 2015, the Food and Agriculture Organisation said in its monthly food price index.
NEW DELHI: India’s horticulture output has outpaced the production of foodgrains third year in a row in 2014-15 despite deficit monsoon, unseasonal rains and hailstorms. Besides, horticulture production also showed continuous increase unlike foodgrain output which reported a decline in 2014-15 as compared to 2013-14.