What's New

Cross-posted from University of Bonn's Center for Development Research

Summary of the international expert consultation organized by the Center for Development Research (ZEF) and International Food Policy Research Institute (IFPRI) held at ZEF in Bonn, Germany on January 31 and February 1, 2013.

By Joachim von Braun (ZEF) and Maximo Torero (IFPRI)

After a volatile few months following the US drought, global food prices stabilized in January, according to the FAO's latest edition of the Food Price Index. The Index averaged 210 points in January, unchanged from a revised December average.

The newest edition of the FEWS Net Monthly Price Watch was released last week, citing continuing high international maize and wheat prices. While maize prices saw drastic spikes in June and July 2012 due to drought conditions in the US, they leveled off, although at high levels, later in the year as more information regarding US crop conditions and global supplies became available. Wheat prices, on the other hand, rose steadily between May and November before leveling out in December.

On January 22, the FAO launched the 2012 edition of its annual report, “The State of Food and Agriculture (SOFA) 2012: Investing in Agriculture for a Better Future", in the US. The launch event was hosted by IFPRI, FAO, and the Partnership to Cut Hunger and Poverty in Africa and featured speakers from all three institutions.

One of the biggest challenges faced by smallholder farmers today is climate change, and the increasingly variable weather patterns that result from it. While farmers in some tropical regions may benefit from rising temperatures, the majority of the world's smallholders will face increased hardship as a result of warmer weather and uncertain rainfall. Future food security, particularly for developing countries, will depend on how populations react to and cope with the challenges presented by climate change.