Food Price Volatility and Insecurity
Author: Toni Johnson, Senior Staff Writer Updated: June 24, 2011
- Introduction
- The Global Food Market
- Food Price Volatility
- Food Security and Policy Implications
Introduction
In 2008, food prices globally rose to unprecedented levels. They continued to climb and stayed relatively high until mid-2011, when prices considerably exceeded 2008 levels. Many factors influence food price volatility, including agriculture and energy policy, commodity prices and market speculation, extreme weather events, rising global demand, and falling surplus stocks. Without increases in agriculture production and improvement in food distribution, the world will have trouble feeding a growing population in the next two decades, much less ending hunger under the UN Millennium Development Goals. The G20 meeting in November 2011 is expected to focus on ways to improve food security and lessen price volatility.
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