The UN’s Food Agency has stepped up pressure on the United States to change its biofuel policy due to fear over a World Food Crisis.
40 percent of the US corn crop is currently used for biofuel to meet renewable energy targets.
The Food and Agriculture Organisation (FAO) says the US should prioritise growing crops for food rather than for fuel as the US mid-West is facing its worst drought in over half a century.
The U.S. Department of Agriculture has slashed its estimates for the size of the corn crop by more than expected, sending corn futures prices to an all-time high. This follows years of accusations that biofuels drive up the price of corn oils , and the grain needed to produce them to the detriment of global food security.
Since January the price of corn has risen by 19.5 percent, wheat prices have risen by 25.8 percent and rice by 7.7 percent.
The global shortage of these commodities has been caused partly by drought and extreme heat in some parts of the world. While crops elsewhere as in parts of Asia have been wiped out due to severe flooding.
These cereals are also used to feed livestock so this also has a knock-on effect for the price of meat. For every kilogram of beef produced you need around seven kilograms of animal food. 36% of the worldwide grain harvest is used for animal food in developed Western countries.
After the financial crisis, investors found security in raw materials that was lacking in financial products. Trade in agricultural markets has increased as well and speculators have profited by buying and selling large quantities of these goods.
No measures were taken at last summer’s G20 meeting, despite complaints by the former French President, Nicolas Sarkozy:
“Who can accept, while there is not enough to feed the planet and the evolution of the planet, that financiers are exchanging 46 times the physical volume of world wheat market?” He said.
On Sunday August 12 on the last day of the Olympic games, British Prime Minister, David Cameron, has scheduled a conference on hunger in London. But will this make any difference on to how we produce and distribute food in the future?
- 1French Riviera declared ‘disaster zone’ after deadly flash floods
- 2Migrant crisis: Hungary poised to shut unofficial border crossings with Croatia
- 3Russian air strike hits terrorist training camp in Syria, say defence officials
- 4Conservative coalition on course for another win in Portuguese elections
- 5Refugees tell of ISIL brutality which forced them to leave Syria
- 1Pope Francis kisses hands of Holocaust survivors
- 2Russia launches more air strikes in Syria
- 3Several reported dead and missing after severe floods in southern France
- 4Migrant crisis: Hungary poised to shut unofficial border crossings with Croatia
- 5Russian air strike hits terrorist training camp in Syria, say defence officials
- 1NASA discovers evidence of “liquid briny water” flowing on Mars
- 2Pope Francis kisses hands of Holocaust survivors
- 3Poland: thousands turn out for anti-immigration protests
- 4Exclusive: shipwatchers chart Russian hardware heading into Med
- 5France claims Russian jets have struck rebel, not IS forces in Homs
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Syrian refugee tripped by shamed camera woman is named
- 3Hungarian camera woman caught on video kicking and tripping migrants could face jail
- 4Hungarian reporter who tripped migrants apologises for her actions
- 5NASA discovers evidence of “liquid briny water” flowing on Mars
- 6Latest News Bulletin
- 7At least 220 dead in stampede outside Mecca, Saudi Arabia reports
- 8International breaking news | euronews online world breaking news in video
- 9Denmark: launches anti-migrant ad campaign
- 10Hungarian camerawoman fired after being filmed kicking migrants
- 11Why aren’t rich Gulf states welcoming Syrian refugees… or are they?
- 12Spain: Catalan President faces ‘civil disobedience’ charges over breakaway vote
- 13Banzai back in the vocabulary as Japan passes law allowing combat deployments
- 14Exclusive: shipwatchers chart Russian hardware heading into Med
- 15Why aren’t rich Gulf states welcoming Syrian refugees…or are they?
- 16International news | euronews, latest international news
- 17Which European countries offer the most social benefits to migrants?
- 18What the top tweets worldwide are saying about #refugees
- 19[Live] Catalonia: separatists heading for clear win in crucial elections
- 20EU split as UN approves raising of Palestinian flag
Wires > News
- 18:49 CET UK crime agency authorised to seize cash from Nigeria ex-oil…
- 18:37 CET EU states might get case-by-case budget relief on refugee crisis…
- 18:30 CET Millions hungry in sub-Saharan Africa, worse to come from El Nino…
- 18:27 CET NATO denounces Russian incursion into Turkish air space
- 18:03 CET Islamic State militants blow up ancient Arch of Triumph in Palmyra
- 17:35 CET South Africa asks ICC for more time to explain non-arrest of Bashir
- 17:07 CET Croatia to hold parliamentary elections on Nov 8
- 17:00 CET Ukraine starts pull-back of tanks, light artillery in east -…