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In its latest Monthly Food Price Watch, FEWS NET reports that global rice production for 2012/2013 is expected to be the highest on record. Global soybean production prospects also improved with a 10 percent increase for 2012/2013; however, strong global demand is expected to keep soybean and soybean oil prices high. While global wheat prices remain high, production is only expected to decline by six percent. However, trade policies in key wheat exporting countries could exert further pressure on prices.

Ukraine has announced that it will be enforcing an export ban on wheat beginning on November 15. The move comes after poor weather impacted Ukraine’s wheat harvests and follows in the wake of the US drought, which decimated that country’s wheat crop and led to sharp increases in international prices. Ukraine’s exports are expected to reach 5.3 million tons in November, a level which the Ukrainian government says will exhaust the country’s exportable surpluses.

Since 2009, the Renewable Energy Directive (RED) has driven the European Union's policies on biofuels. The RED's current mandate states that 10% of the EU’s transportation fuel must come from renewable sources by 2020; it also mandates that only 5.6% of this can come from first-generation biofuels (i.e., biofuels produced from food crops such as maize). On October 17, however, the EC released a new proposal that would significantly change these mandates and impact the production and use of first-generation biofuels throughout the EU.

Over the past four months, weather patterns and conflict have played a key role in the food security situation in several regions, according to the latest issue of the WFP's Global Food Security Update. While good rains in the Sahel have led to a predicted short-term improvement in the region's food security, drought and flooding in several other areas of the world have produced shocks that are likely to drive more people into hunger.

In honor of World Food Day (October 16, 2012), IFPRI Director General Shenggen Fan provided guest commentary on the World Economic Forum's Forum Blog . The piece focuses on the critical role that smallholder farmers play in the fight against hunger, undernutrition, and food insecurity.