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USDA Report Cites Lower Global Corn, Soybean Production and Exports
The latest USDA World Agricultural Supply and Demand Estimates has been released, citing sharply lowered US production and supply estimates for both corn and soybeans. The reduction in US supplies is expected to impact global supplies and trade as well.
Global soybean production is projected at 267.2 million tons, a decrease of 3.9 million tons that can be attributed largely to lower production in the United States. US soybean exports for 2012/13 have been reduced 115 million bushels to 1.37 billion.
High Maize and Soybean Prices Spur Food Security Fears
Global maize and soybean prices have skyrocketed in recent weeks and experts fear that price increases will be unabated as dry weather in the US Midwest continues for at least another week.
East Africa Sees Steadily Rising Food Prices
FEWS NET has released its Food Price Watch for June, citing steadily increasing staple food prices in East Africa. Rising prices in the region are being caused by a combination of dwindling supplies from previous harvests and market interruptions due to conflict; many areas of the region were already seeing alarmingly high food prices.
UN Secretary-General Issues Challenge to Achieve "Zero Hunger"
The Rio+20 Conference last week witnessed the launch of the "Zero Hunger Challenge," an initiative calling for resilient global food systems and adequate nutrition for every individual. The Challenge encompasses five goals:
Achieving 100 percent access to adequate nutrition for every individual year-round.
Ending malnutrition during pregnancy and early childhood.
Making all food systems sustainable.
Increasing the productivity and income growth of smallholder farmers, particularly women.
Achieving zero percent food waste.
Scaling Up Agricultural Investment to Combat Poverty and Hunger
The 2007-2008 and 2010-2011 food crises saw not only an increase in food prices, but also an increase in poverty in many developing countries. A staggering 1.2 billion people live in extreme poverty worldwide, and 70 percent of those poor live in rural areas and depend in some capacity on agriculture to survive. For these poor populations, there is an urgent need for strong investment in agricultural growth to increase production, reduce hunger, and help lift them out of crushing poverty.