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Food Crisis Repeat Depends on Poor Countries: FAO
Source: worldbank.org
Source Date: Wednesday, November 17, 2010
Focus: Electronic and Mobile Government, ICT for MDGs, Internet Governance
Created: Nov 23, 2010

“A repeat of the 2007/08 food crisis depends on whether high commodities prices are passed onto domestic markets in poor countries, an economist at the UN Food and Agriculture Organization (FAO) said on Wednesday. ‘The situation is getting a little bit uncomfortable,’ FAO Senior Grains Economist Abdolreza Abbassian said…. ‘Poor countries have to import food at much higher prices. Whether or not this will lead to domestic problems, turmoil, demonstrations, riots, the kind of things we saw in 2008, or not, it is not possible to predict,’ Abbassian said….” [Reuters/Factiva]

Dow Jones writes that “…food prices around the world are rising and could increase further in 2011 if production of key crops doesn't expand, the FAO warned Wednesday. ‘Given the expectation of falling global inventories, the size of next year's crops will be critical in setting the tone for stability in international markets,’ the FAO said in its Food Outlook report….

‘Consumers may have little choice but to pay higher prices for their food,’ FAO said, noting farmers may seek to tap a number of price rises by diversifying crops to sugar and soybeans, for example, and may not grow enough cereals as a result….” [Dow Jones/Factiva]

Xinhua adds that “…the predictions came as FAO said the global food import bill would hit $1.026 trillion this year, almost 15 percent above last year and close to the record high of $1.031 trillion reached in 2008….” [Xinhua/Factiva]
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