What's New

A Commentary by Maximo Torero

Thailand’s rice exporters are warning that the country’s 2012 rice exports could drop by as much as 30-40 percent as the result of a proposed government policy that would guarantee fixed prices for both plain white rice and jasmine rice. The Pheu Thai Party, which was elected into power in July, has promised farmers fixed prices of 15,000 baht ($US 500) per ton for plain white rice and 20,000 baht (US$ 667) per ton for jasmine rice.

GIEWS has released its Global Food Price Monitor for September 2011, citing continued record high prices in East Africa.

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According to FEWS NET, the prevalence of malnutrition and the rate of crude mortality have surpassed famine thresholds in the Bay Region of southern Somalia. A combination of poor crop production and deteriorating purchasing power has pushed poor households in this region into massive food deficits. Due to this rapidly deteriorating situation, the FAO-managed Food Security and Nutrition Analysis Unit and FEWS NET have now classified this region as IPC Phase 5 Famine.

FEWS NET has released its Global Price Watch for August, citing slightly declining prices in some regions of East Africa and continued high staple food prices in Central America.

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In June, the US Senate voted in favor of a deal to end a 45-cent-per-gallon subsidy for the ethanol industry, as well as a 54-cent-per-gallon ethanol tariff. Originally decried by Agriculture Secretary Tom Vilsack as a move that would cost American jobs, lead to less choice for consumers, and further dependence on foreign oil sources, the proposal is seen as progress by those who fear that using crops for fuel can destabilize the food and feed markets and lead to higher food prices.