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Global hunger continues to rise, urgent climate action needed - new State of Food Security and Nutrition Report
The challenges facing global food security continue to increase, driven by ongoing conflict and climate shocks. According to the 2018 State of Food Security and Nutrition in the World Report (released last week by FAO, IFAD, UNICEF, WFP, and WHO), 821 million people were undernourished around the world in 2017; this represents a further rise from the 815 million estimated by the 2017 report. This troubling rise in undernourishment reverses progress seen over the past decade.
Cereal, fertilizer prices rise in August
The FAO Food Price Index remained virtually unchanged in August, although cereal prices rose as a result of declining crop prospects. At 167.6 points, the Index is around 9 percent lower than its August 2017 levels.
Wheat prices continue to see excessive volatility
Both hard wheat and soft wheat prices are experiencing a period of excessive volatility, according to the Food Security Portal’s Excessive Food Price Variability Early Warning System. Hard wheat futures prices on the Chicago Board of Trade began experiencing excessive volatility earlier in August, while soft wheat prices began to see excessive movement toward the end of the month. According to the Wall Street Journal, Chicago wheat futures reached a three-year high in early August. This surge was quickly followed by a decline in prices.
G20 Agriculture Ministers commit to collaborate on healthy, sustainable food future
The countries that make up the G20 account for around 60 percent of the world's agricultural land, some 80 percent of global agricultural trade, and about two-thirds of global population. As such, these countries have an important role to play in global food and nutrition security, as well as sustainable agricultural production.
Early warning: Hard wheat prices continue to see excessive volatility
Hard wheat prices continued to experience excessive volatility this week, according to the Food Security Portal’s Excessive Food Price Variability Early Warning System . Futures prices for hard wheat on the Chicago Board of Trade rose in early August, reaching 586, 579, and 584 cents per bushel on August 6, 7, and 8, respectively; this is compared to 513 cents per bushel on July 6. According to the Wall Street Journal , Chicago wheat futures reached a three-year high in early August.
Hard wheat futures prices, 2015-2018