What's New

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.

Food assistance programs are a staple in the international development world, used to address both humanitarian crises and longer term development goals. But what type of food assistance program is most effective in the fight against hunger and malnutrition?
A new IFPRI report examines this question.

The USDA's latest World Agricultural Supply and Demand Estimate has been released, predicting low global wheat and corn stocks for 2012/2013. Global wheat supplies are projected to be slightly lower due to reduced production prospects in Argentina and lower reported production in Russia. US corn ending stocks are projected to be 44 million bushels lower; higher US wheat disappearance will leave the balance sheet historically tight and is expected to support continued strong and volatile prices.