The question I asked myself is; from all the news so far I read it does not explain the increase in prices in such a short time. In this article I found it.
"As prices rose, major grain producers including Argentina and Ukraine, battling inflation caused in part by soaring oil bills, were moving to bar exports on a range of crops to control costs at home. It meant less supply on world markets even as global demand entered a fundamentally new phase. Already, corn prices had been climbing for months on the back of booming government-subsidized ethanol programs. Soybeans were facing pressure from surging demand in China. But as supplies in the pipelines of global trade shrank, prices for corn, soybeans, wheat, oats, rice and other grains began shooting through the roof.
At the same time, food was becoming the new gold. Investors fleeing Wall Street's mortgage-related strife plowed hundreds of millions of dollars into grain futures, driving prices up even more. By Christmas, a global panic was building. With fewer places to turn, and tempted by the weaker dollar, nations staged a run on the American wheat harvest.
Foreign buyers, who typically seek to purchase one or two months' supply of wheat at a time, suddenly began to stockpile. They put in orders on U.S. grain exchanges two to three times larger than normal as food riots began to erupt worldwide. This led major domestic U.S. mills to jump into the fray with their own massive orders, fearing that there would soon be no wheat left at any price.
"Japan, the Philippines, [South] Korea, Taiwan -- they all came in with huge orders, and no matter how high prices go, they keep on buying," said Jeff Voge, chairman of the Kansas City Board of Trade and also an independent trader. Grains have surged so high, he said, that some traders are walking off the floor for weeks at a time, unable to handle the stress.
"We have never seen anything like this before," Voge said. "Prices are going up more in one day than they have during entire years in the past. But no matter the price, there always seems to be a buyer. . . . This isn't just any commodity. It is food, and people need to eat.""
So the truth is that some WallStreet Bankers are the people responsible for this price rise. But why?
If you cannot find the links in this blog, I have majority of them filed, Email me!
Tuesday, April 29, 2008
The World Hunger Is Growing (All Up to Date)
My First Post:
This is somethong which I noticed in the news recently. the food shortage in the world.
"Two million children in India die and turn into statistics every year. That's about 6,000 deaths everyday. A CNN-IBN Special Investigation travelled to the rural heartlands of UP to document deaths and cases of malnutrition for a special edition of 30 Minutes. Here's the first installment from UP's Varanasi and Lalitpur districts."
In Booming India, Hunger Kills 6,000 Kids Daily
"The United Nations body World Food Programme (WFP) has warned that the rise in global food prices will reduce its ability to feed hungry and malnourished people.
Speaking last month in Rome, where the WFP is based, WFP Executive Director Josette Sheeran said, “Our ability to reach people is going down just as needs go up.... We are seeing a new face of hunger in which people are being priced out of the food market.... Situations that were previously not urgent—they are now.”
In a press release, the WFP gave a new estimate for the funds needed for its work this year at nearly US$3.5 billion, half a billion more than estimated last year. This money is for approved projects to feed 73 million people in 78 countries throughout the world. It notes that this money is for projected feeding schemes and does not include unforeseen emergencies that may arise.
It also notes that the poorest people on earth will have to spend an increasing portion of their meagre income on food. The WFP warns that these people will be forced to buy less food, or less nutritious food, or rely on outside help."
Global Food Prices Rise And Famine Increases
After Philliphines and Indonesia Cambodia has banned export of rice.
"Cambodia has become the latest Asian country to impose restrictions on exports of rice – the staple food for half the world's population.
The government announced the two-month export ban to ensure "food security" on Thursday, blaming surging overseas demand – particularly in Africa and the Middle East - for the skyrocketing cost of rice."
My Second Post:
Here I was looking at two places in the world who has problems with their staple diet, Rice.
"At least four Haitians were killed and around 25 others wounded in demonstrations-turned-riots in southern Haiti with U.N. peacekeepers, according to the local reports.
On the second day of demonstrations related to the anti-poverty and against the rising prices on Friday, riots broke out among the armed protesters and clashes were reported between the United Nations peacekeepers and the people.
Violence engulfed different parts of Haiti for the last two days over the rising food prices including rice, fruits and beans that have surged by more than 50 percent over the last 12 months in the region."
Yeah right, when you consider Haiti is colonised by the US and conned the UN to send peace keepers. Do not forget that the democratically elected prime minister, had to flee the country and living in Africa at the moment. That was US instigated riots.
"Haiti, which face food crisis that is threatening the country's vulnerable security, holds 8.5 million people with only marginal number of people earning less than two dollars per day.
"We know that these demonstrations have been infiltrated by individuals linked to drug dealers and other smugglers," Haiti's Prime Minister, Jacques Edouard Alexis, condemning the violence told BBC News report on Saturday.
He added that the country has already spent almost $10 million to curb the rising food prices and to make the food aid schemes available to the people."
I bet $8 million ended up in the prime minister's pockets init?
That is from "Food Riots Kill At Least Four, Dozens Injured In Haiti"
And there is a bit more here.
"A global rice shortage that has seen prices of one of the world's most important staple foods increase by 50 per cent in the past two weeks alone is triggering an international crisis, with countries banning export and threatening serious punishment for hoarders.
With rice stocks at their lowest for 30 years, prices of the grain rose more than 10 per cent on Friday to record highs and are expected to soar further in the coming months. Already China, India, Egypt, Vietnam and Cambodia have imposed tariffs or export bans, as it has become clear that world production of rice this year will decline in real terms by 3.5 per cent. The impact will be felt most keenly by the world's poorest populations, who have become increasingly dependent on the crop as the prices of other grains have become too costly."
But do not forget that US policy through the WTO made the American GM rice dirt cheap in the third world countries and people stopped growing their own rice, as it will not sell in their own country due to American rice.
"Analysts have cited many factors for the rises, including rising fuel and fertiliser expenses, as well as climate change. But while drought is one factor, another is the switch from food to biofuel production in large areas of the world, in particular to fulfil the US energy demands. A continuing change in the global diet is also putting a further squeeze on rice. In China, for example, 100 million rural migrants to the country's big cities have switched from a staple of wheat to rice as they have become wealthier."
From Egyptian workers riot over rising prices
"Thousands of demonstrators angry about rising prices and stagnant salaries torched buildings, looted shops and hurled bricks at police who responded with tear gas Sunday in a northern industrial town as Egyptians staged a nationwide strike.Thousands of demonstrators angry about rising prices and stagnant salaries torched buildings, looted shops and hurled bricks at police who responded with tear gas Sunday in a northern industrial town as Egyptians staged a nationwide strike."
The third Post:
Check my earlier posts this and this.
"Sri Lanka’s official annualised inflation rate skyrocketed to 28 percent in March, up from 24 percent in February. Prices for essential food items are soaring—the inflation rate for food and beverages reached a staggering 37 percent—while transport prices and housing rents followed with 24 percent and 11 percent respectively.
Over the past three months, the Colombo Consumer Price Index (CCPI) has jumped by 487 points, from 5,955 in December to 6,442 in March, and the impact is sharply eroding the living standards of workers, the rural poor and students. People are particularly angry because the price of rice, the main staple food in Sri Lanka, has nearly doubled since January last year, causing immense hardship. Worse conditions lie ahead. The government has admitted that bread prices could rise to 100 rupees by the end of this year, a threefold increase."
Anger grows over rising prices in Sri Lanka
So we have Phillipines, Indonesia, Cambodia, China, India, Egypt, Vietnam, Egypt, Haiti and now in Sri Lanka. In a way it is good that people can see the large differnce between how we in UK live and other countries. But will it be too late for us in the near future where we might have to tighten our belts or kill someone for a morsal of food? Hmmmm it is nice to see BBC news on the same subject. Please join the country India to the above list!!!!!
Forth Post:
Yeah BBC news and lots of media has taken up the issue. My last post, about the subject. In this article there is a bit more stats and different points of view.
"Never mind the economic crisis. Focus for a moment on a more urgent threat: the great food recession that is sweeping the world faster than the credit crunch. You have probably seen the figures by now: the price of rice has risen by three-quarters over the past year, that of wheat by 130%. There are food crises in 37 countries. One hundred million people, according to the World Bank, could be pushed into deeper poverty by the high prices.
But I bet that you have missed the most telling statistic. At 2,1-billion tonnes, the global grain harvest broke all records last year -- it beat the previous year's by almost 5%. The crisis, in other words, has begun before world food supplies are hit by climate change. If hunger can strike now, what will happen if harvests decline?"
Media so far has been telling a lie about the harvest init? They said the global harvest failed?
"The World Bank points out that "the grain required to fill the tank of a sports utility vehicle with ethanol ... could feed one person for a year". "
Oh dear, what fun?
"This year global stockpiles of cereals will decline by about 53-million tonnes; this gives you a rough idea of the size of the hunger gap. The production of biofuels will consume almost 100-million tonnes, which suggests that they are directly responsible for the current crisis."
Good on you Ruth Kelly, you are getting us into a muddle annd you knows it!
"While 100-million tonnes of food will be diverted this year to feed cars, 760-million tonnes will be snatched from the mouths of humans to feed animals -- which could cover the global food deficit 14 times. If you care about hunger, eat less meat.
While meat consumption is booming in Asia and Latin America, in the United Kingdom it has scarcely changed since the government started gathering data in 1974. At just over 1kg per person per week, it's still about 40% above the global average, though less than half the amount consumed in the United States.
We eat less beef and more chicken than we did 30 years ago, which means a smaller total impact. Beef cattle eat about 8kg of grain or meal for every kilogram of flesh they produce; a kilogram of chicken needs just 2kg of feed. Even so, our consumption rate is plainly unsustainable."
STOP: There is good news as well on the food front. For the people who like their spuds it is good news of course.
"The potato has potential as an antidote to hunger caused by higher food prices, a population that is growing by one billion people each decade, climbing costs for fertilizer and diesel, and more cropland being sown for biofuel production.
To focus attention on this, the United Nations named 2008 the International Year of the Potato, calling the vegetable a "hidden treasure"."
Read it here.
If you cannot find the links in this blog, I have majority of them filed, Email me!
This is somethong which I noticed in the news recently. the food shortage in the world.
"Two million children in India die and turn into statistics every year. That's about 6,000 deaths everyday. A CNN-IBN Special Investigation travelled to the rural heartlands of UP to document deaths and cases of malnutrition for a special edition of 30 Minutes. Here's the first installment from UP's Varanasi and Lalitpur districts."
In Booming India, Hunger Kills 6,000 Kids Daily
"The United Nations body World Food Programme (WFP) has warned that the rise in global food prices will reduce its ability to feed hungry and malnourished people.
Speaking last month in Rome, where the WFP is based, WFP Executive Director Josette Sheeran said, “Our ability to reach people is going down just as needs go up.... We are seeing a new face of hunger in which people are being priced out of the food market.... Situations that were previously not urgent—they are now.”
In a press release, the WFP gave a new estimate for the funds needed for its work this year at nearly US$3.5 billion, half a billion more than estimated last year. This money is for approved projects to feed 73 million people in 78 countries throughout the world. It notes that this money is for projected feeding schemes and does not include unforeseen emergencies that may arise.
It also notes that the poorest people on earth will have to spend an increasing portion of their meagre income on food. The WFP warns that these people will be forced to buy less food, or less nutritious food, or rely on outside help."
Global Food Prices Rise And Famine Increases
After Philliphines and Indonesia Cambodia has banned export of rice.
"Cambodia has become the latest Asian country to impose restrictions on exports of rice – the staple food for half the world's population.
The government announced the two-month export ban to ensure "food security" on Thursday, blaming surging overseas demand – particularly in Africa and the Middle East - for the skyrocketing cost of rice."
My Second Post:
Here I was looking at two places in the world who has problems with their staple diet, Rice.
"At least four Haitians were killed and around 25 others wounded in demonstrations-turned-riots in southern Haiti with U.N. peacekeepers, according to the local reports.
On the second day of demonstrations related to the anti-poverty and against the rising prices on Friday, riots broke out among the armed protesters and clashes were reported between the United Nations peacekeepers and the people.
Violence engulfed different parts of Haiti for the last two days over the rising food prices including rice, fruits and beans that have surged by more than 50 percent over the last 12 months in the region."
Yeah right, when you consider Haiti is colonised by the US and conned the UN to send peace keepers. Do not forget that the democratically elected prime minister, had to flee the country and living in Africa at the moment. That was US instigated riots.
"Haiti, which face food crisis that is threatening the country's vulnerable security, holds 8.5 million people with only marginal number of people earning less than two dollars per day.
"We know that these demonstrations have been infiltrated by individuals linked to drug dealers and other smugglers," Haiti's Prime Minister, Jacques Edouard Alexis, condemning the violence told BBC News report on Saturday.
He added that the country has already spent almost $10 million to curb the rising food prices and to make the food aid schemes available to the people."
I bet $8 million ended up in the prime minister's pockets init?
That is from "Food Riots Kill At Least Four, Dozens Injured In Haiti"
And there is a bit more here.
"A global rice shortage that has seen prices of one of the world's most important staple foods increase by 50 per cent in the past two weeks alone is triggering an international crisis, with countries banning export and threatening serious punishment for hoarders.
With rice stocks at their lowest for 30 years, prices of the grain rose more than 10 per cent on Friday to record highs and are expected to soar further in the coming months. Already China, India, Egypt, Vietnam and Cambodia have imposed tariffs or export bans, as it has become clear that world production of rice this year will decline in real terms by 3.5 per cent. The impact will be felt most keenly by the world's poorest populations, who have become increasingly dependent on the crop as the prices of other grains have become too costly."
But do not forget that US policy through the WTO made the American GM rice dirt cheap in the third world countries and people stopped growing their own rice, as it will not sell in their own country due to American rice.
"Analysts have cited many factors for the rises, including rising fuel and fertiliser expenses, as well as climate change. But while drought is one factor, another is the switch from food to biofuel production in large areas of the world, in particular to fulfil the US energy demands. A continuing change in the global diet is also putting a further squeeze on rice. In China, for example, 100 million rural migrants to the country's big cities have switched from a staple of wheat to rice as they have become wealthier."
From Egyptian workers riot over rising prices
"Thousands of demonstrators angry about rising prices and stagnant salaries torched buildings, looted shops and hurled bricks at police who responded with tear gas Sunday in a northern industrial town as Egyptians staged a nationwide strike.Thousands of demonstrators angry about rising prices and stagnant salaries torched buildings, looted shops and hurled bricks at police who responded with tear gas Sunday in a northern industrial town as Egyptians staged a nationwide strike."
The third Post:
Check my earlier posts this and this.
"Sri Lanka’s official annualised inflation rate skyrocketed to 28 percent in March, up from 24 percent in February. Prices for essential food items are soaring—the inflation rate for food and beverages reached a staggering 37 percent—while transport prices and housing rents followed with 24 percent and 11 percent respectively.
Over the past three months, the Colombo Consumer Price Index (CCPI) has jumped by 487 points, from 5,955 in December to 6,442 in March, and the impact is sharply eroding the living standards of workers, the rural poor and students. People are particularly angry because the price of rice, the main staple food in Sri Lanka, has nearly doubled since January last year, causing immense hardship. Worse conditions lie ahead. The government has admitted that bread prices could rise to 100 rupees by the end of this year, a threefold increase."
Anger grows over rising prices in Sri Lanka
So we have Phillipines, Indonesia, Cambodia, China, India, Egypt, Vietnam, Egypt, Haiti and now in Sri Lanka. In a way it is good that people can see the large differnce between how we in UK live and other countries. But will it be too late for us in the near future where we might have to tighten our belts or kill someone for a morsal of food? Hmmmm it is nice to see BBC news on the same subject. Please join the country India to the above list!!!!!
Forth Post:
Yeah BBC news and lots of media has taken up the issue. My last post, about the subject. In this article there is a bit more stats and different points of view.
"Never mind the economic crisis. Focus for a moment on a more urgent threat: the great food recession that is sweeping the world faster than the credit crunch. You have probably seen the figures by now: the price of rice has risen by three-quarters over the past year, that of wheat by 130%. There are food crises in 37 countries. One hundred million people, according to the World Bank, could be pushed into deeper poverty by the high prices.
But I bet that you have missed the most telling statistic. At 2,1-billion tonnes, the global grain harvest broke all records last year -- it beat the previous year's by almost 5%. The crisis, in other words, has begun before world food supplies are hit by climate change. If hunger can strike now, what will happen if harvests decline?"
Media so far has been telling a lie about the harvest init? They said the global harvest failed?
"The World Bank points out that "the grain required to fill the tank of a sports utility vehicle with ethanol ... could feed one person for a year". "
Oh dear, what fun?
"This year global stockpiles of cereals will decline by about 53-million tonnes; this gives you a rough idea of the size of the hunger gap. The production of biofuels will consume almost 100-million tonnes, which suggests that they are directly responsible for the current crisis."
Good on you Ruth Kelly, you are getting us into a muddle annd you knows it!
"While 100-million tonnes of food will be diverted this year to feed cars, 760-million tonnes will be snatched from the mouths of humans to feed animals -- which could cover the global food deficit 14 times. If you care about hunger, eat less meat.
While meat consumption is booming in Asia and Latin America, in the United Kingdom it has scarcely changed since the government started gathering data in 1974. At just over 1kg per person per week, it's still about 40% above the global average, though less than half the amount consumed in the United States.
We eat less beef and more chicken than we did 30 years ago, which means a smaller total impact. Beef cattle eat about 8kg of grain or meal for every kilogram of flesh they produce; a kilogram of chicken needs just 2kg of feed. Even so, our consumption rate is plainly unsustainable."
STOP: There is good news as well on the food front. For the people who like their spuds it is good news of course.
"The potato has potential as an antidote to hunger caused by higher food prices, a population that is growing by one billion people each decade, climbing costs for fertilizer and diesel, and more cropland being sown for biofuel production.
To focus attention on this, the United Nations named 2008 the International Year of the Potato, calling the vegetable a "hidden treasure"."
Read it here.
If you cannot find the links in this blog, I have majority of them filed, Email me!
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