FACTBOX-FAO summit to seek answers to food price crisis

Fri May 30, 2008 2:40pm BST
 
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(Reuters) - Record high food prices and the danger of hunger in poor countries will dominate the U.N. Food and Agriculture Organisation summit in Rome on June 3-5.

Here are some facts and figures about the food price crisis and how the international community plans to tackle it.

WHO IS AFFECTED BY RISING FOOD PRICES?

The cost of major food commodities has doubled over the last couple of years, with foodstuff such as rice, corn and wheat reaching record highs. Some prices are at their highest in 30 years in real terms.

FAO says this is bound to worsen the situation of 850 million people already suffering from chronic hunger.

In recent months there have been food riots in several developing countries, including some African nations, Haiti and Bangladesh. In poorer states, people may spend more than half their income on food, compared to 10 percent in Germany.

WHY ARE FOOD PRICES RISING?

There are many factors behind the surge in prices, including drought in big producers like Australia, rising demand from fast-growing economies such as China and India, high oil prices that have pushed up production costs, and dwindling stocks.

Experts also blame a big push in biofuels programmes that has diverted land and crops from food production as well as export restrictions imposed by some countries.  Continued...

 
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