Valu closes EGP 616.75m securitized bond issuance    UK regulator may sanction GB news outlet for impartiality violation    Egypt's Shoukry, Greek counterpart discuss regional security, cooperation in Athens    Midar offers investment opportunities in its newest project, Mada, in East Cairo    Mercon Developments introduces Nurai Project in New Cairo with EGP 10bn investment    Madinaty to host "Fly Over Madinaty" skydiving event    China's revenue drops 2.7% in first four months of '24    Turkish Ambassador to Cairo calls for friendship matches between Türkiye, Egypt    FTSE 100 up, metal miners drive gains    China blocks trade with US defence firms    Egypt's c. bank offers EGP 4b in fixed coupon t-bonds    Health Ministry adopts rapid measures to implement comprehensive health insurance: Abdel Ghaffar    Rafah crossing closure: Over 11k injured await vital treatment amidst humanitarian crisis in Gaza    Nouran Gohar, Diego Elias win at CIB World Squash Championship    Coppola's 'Megalopolis': A 40-Year Dream Unveiled at Cannes    World Bank assesses Cairo's major waste management project    Partnership between HDB, Baheya Foundation: Commitment to empowering women    Venezuela's Maduro imposes 9% tax for pensions    Health Minister emphasises state's commitment to developing nursing sector    K-Movement Culture Week: Decade of Korean cultural exchange in Egypt celebrated with dance, music, and art    Empower Her Art Forum 2024: Bridging creative minds at National Museum of Egyptian Civilization    Niger restricts Benin's cargo transport through togo amidst tensions    Egyptian consortium nears completion of Tanzania's Julius Nyerere hydropower project    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Prime Minister Madbouly reviews cooperation with South Sudan    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Amal Al Ghad Magazine congratulates President Sisi on new office term    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



June summit on food security to address world food challenges
Published in Daily News Egypt on 01 - 06 - 2008

ROME: The upcoming conference on World Food Security, set to take place next week in Rome (June 3-5) will "re-launch the fight against hunger and poverty and boost agricultural production in developing countries, said the Food and Agriculture Organization (FAO). In a document specially prepared for the summit, FAO said that the international community should take urgent and concrete actions to address the issues of hunger and malnutrition in the face of soaring food prices, scarce land and water resources, climate change, increased energy needs and population growth. "The current dramatic world food situation reminds us of the fragility of the balance between global food supplies and the needs of the world's inhabitants, and of the fact that earlier commitments to accelerate progress towards the eradication of hunger have not been met, said FAO Director-General Jacques Diouf in the document. "Given the seriousness of global food supply and demand imbalances, cereal markets may not regain their stability any time soon. Prices might come down, but they are not likely to reach their previous low levels for several years to come. We hope that world leaders coming to Rome will agree on the urgent measures that are required to boost agricultural production, especially in the most affected countries, and at the same time protect the poor from being adversely affected by high food prices, he added. Many agricultural commodity markets continue to be tight despite production increases, FAO said, emphasizing that low stock levels are not likely to be replenished quickly.
"The possibility of further sharp price hikes and continued volatility as a result of unforeseen events seems to be likely for the next few seasons, according to the FAO report "Soaring food prices: facts, perspectives, impacts and actions required. Many countries are facing the dual challenge of sharp increases in food and fuel prices threatening macroeconomic stability and overall growth. Poor food buyers in the cities and non-food producers in rural areas who spend a large share of their incomes on food are the most adversely affected. The report lists 22 countries that are particularly vulnerable due to a combination of high levels of chronic hunger (more than 30 percent undernourishment) and being net importers of both food and fuel. Countries such as Eritrea, Niger, Comoros, Haiti and Liberia are particularly affected. The report said that increases in domestic prices even by moderate rates (10 or 20 percent) can have immediate negative impacts on poor households that spend a large part of their income on food staples. FAO's estimate of the number of hungry people in 2002-04 stands at 862 millions, with 830 millions in the developing countries. With the current situation of high food prices, providing emergency assistance to the most poor and hungry as well as re-launching agriculture and revitalizing rural communities are key elements to reduce hunger and ensure an improved world food situation, FAO said. Protecting the most vulnerable in rural and urban areas would require targeted direct food distribution, food subsidies and cash transfers as well as nutritional programs including school feeding. Strengthening social protection is especially important for vulnerable groups, including children, pregnant women and the elderly. WFP has called for $775 million to finance these emergency activities. As a short-term response, local food production should be boosted urgently. Measures should include the distribution to small-scale farmers of seeds, fertilizers, animal feed and other inputs through vouchers or smart subsidies. If implemented effectively, such a program will increase the supply response in poor countries and, thus, improve food availability, increase the income of small producers and may reduce price increases in local markets.
FAO has called for $ 1.7 billion to provide low income food deficit countries with seeds, fertilizers and other inputs to boost production in low-income and food deficit countries. Since 17 December of last year, Diouf announced the provision by FAO of US$ 17 million from its own resources to kick-start this initiative. The report stresses that high food prices represent an excellent opportunity for increased investments in agriculture by both the public and private sectors to stimulate production and productivity. It calls for investment into long neglected areas such as agricultural research, extension and infrastructure. Support should focus on agricultural research serving the needs of poor farmers, many of whom farm in increasingly marginal areas; poor farmers should have better access to factors of production, namely land, water and inputs. The report also notes that unilateral trade policy measures undertaken by countries to ensure domestic food availability can exacerbate price instability on world markets and affect food security in other countries. Policy coordination is important in this respect. Production and trade policies on biofuels may also need to be re-examined in light of their possible effects on international food markets and hence on food security, especially in vulnerable countries. To be successful, decisions made and policies implemented in this area should take into utmost consideration world food security. "This is a unique moment in history: for the first time in 25 years, a fundamental incentive - high food commodity prices - is in place for stimulating the agricultural sector, Jacques Diouf said. "Governments, supported by their international partners, must now undertake the necessary public investment and provide a favourable environment for private investments, while at the same time ensuring that the most vulnerable are protected from hunger. The summit on food security will offer a unique forum for world leaders to adopt the policies, strategies and programs that are required to overcome the new challenges to world food security. Many Heads of State and Government have already confirmed their participation in the Summit, which will also be attended by the United Nations Secretary-General and the heads of many United Nations organizations and the Bretton Woods institutions.


Clic here to read the story from its source.
Related stories