Food
Price of Rice
The price of rice has increased dramatically in the first two months of 2008 according to the Food and Agriculture Organization of the United Nations. Gloria Macapagal Arroyo, the president of the Philippines, recently reached an agreement with Vietnam to guarantee a steady rice supply. Other Asian leaders are also trying to secure their imports. For much of Asia, industrialization has taken precedent over investment in agriculture causing shortfalls in rice production. Factories have taken precedent over rice patties and investment in machinery over research in agriculture.
Snapshot asks, will the rush to industrialize continue to push rice prices higher?
High Demand for Food Hurts Those In Need
Food prices have risen dramatically during the past year forcing many countries to implement food rationing, price controls, and export bans. The United Nations Food and Agriculture Organization warned that lower income countries, reliant on food aid, will face severe cutbacks in staple items. Supply shortages are partially a result of dramatic increase in demand from countries like Brazil, Russia, India, and China.
Snapshot asks, what can be done to prevent rising demand for food in middle income countries from constraining supply to low income countries?
