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Food Crisis Changing Structures, Triggers, & Panic Reactions Steve Wiggins Overseas Development Institute.

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Presentation on theme: "Food Crisis Changing Structures, Triggers, & Panic Reactions Steve Wiggins Overseas Development Institute."— Presentation transcript:

1 Food Crisis Changing Structures, Triggers, & Panic Reactions Steve Wiggins Overseas Development Institute

2 World Food System More Food, Lower Price, Less Variation

3 Structural Change: Slowing Growth of Cereals Production

4 Food Prices: Triggers Harvest failures: Australia, Russia, Ukraine P Oil Biofuels

5 Food Prices: Panic Export restrictions e.g. India, rice Re-stocking in a tight market e.g. Oman, 200kt rice from Vietnam, not 100kt Speculation on commodity futures

6 What needs to be done? Loosen the system if it cant handle small changes in supply, heaven help us with a more variable climate Stocks Stocks, physical & virtual Agricultural development Modest increases will be sufficient: 2% a year Deal with hunger & malnutrition Before somebody else takes advantage

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