The GIEWS Global Food Price Monitor for May was released today, citing a 5 percent rise in global maize prices. The increase in maize prices reflects planting delays in the US caused by cold, wet weather in key growing areas. Wheat export sales also increased in May, adding further upward pressure on prices. Higher maize prices were seen in many low-income countries in LAC due to higher transport costs and reduced outputs.
The FAO released today its latest Food Price Index, which has remained largely unchanged from last month at 215.2 points. While this is 10 points higher than in May 2012, it still remains nearly 10 percent lower than the peak seen in February 2011.
The Cereals Price Index rose four points from April, largely based on a strong rebound in maize prices as the US experienced planting delays and a tightening of exports. Wheat and rice prices, on the other hand, remained largely unchanged in May.
The May issue of the FAO Monthly News Report was released today. The report covers ongoing global and regional trends in grain prices and policies. This month's report includes articles on the new WTO Director General, Brazil and Argentina joining the US in the International Corn Alliance, rising wheat prices in the Black Sea region, and Iran's stoppage of wheat exports.
Cross-posted from IFPRI.org
By Grace Lerner
Nearly 30 years after the 1984 famine that left more than 400,000 people dead, Ethiopia has made significant progress toward food security. Some of these recent successes include a reduction in poverty, an increase in crop yields and availability, and an increase in per capita income—rising in some rural areas by more than 50 percent!
What happened to cause this breakthrough, and what steps does the country need to stay on track?
Economic growth in the developing world relies heavily on credit, grants, and loans. But increasing poor populations' access to these financial vehicles brings with it a significant amount of risk for lenders, both public and private. When selecting development interventions to financially support, lenders and donors are often faced with an "either/or" proposition - they can fund either more sustainable (and thus less risky) projects that may have lower poverty-reducing effects or less sustainable projects that will have a higher impact on poverty.
A new report from IFPRI, WFP, and Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS) finds that in 2011, food insecurity affected an estimated 17 percent of the population, or 13.7 million people. This number is up from 2009, when 14 percent of the population suffered from food insecurity. Poverty has also risen during this time, with 15 percent of the population moving into poverty between 2009 and 2011.
The latest USDA World Agricultural Supply and Demand Estimate (WASDE) report was released on Friday. The WASDE report provides monthly comprehensive forecasts of supply and demand for major U.S. and global crops, supplied by the USDA. Crops covered include wheat, coarse grains, rice, and oilseeds. This report can explain past and current global commodities trends, as well as predict trends for the coming year. This month's report cites higher global wheat supplies for 2013/2014, as well as record global corn production.
For the second month in a row, the FAO Food Price Index rose on sharp increases in dairy prices and marginal increases in meat. The Index averaged 215.5 points in April, up 2 points from March. At this level, the Index is only 9 points below its highest level, seen in February 2011.