Oxfam UK warned yesterday that the average prices of staple crops will more than double in the next 20 years leaving billions of people starving.
Oxfam states that the international food system, as it stands, is failing to feed nearly a billion people a day.
The new research published yesterday in Oxfam’s report, ‘Growing a Better Future’ predicts that by 2030 staple foods such as maize will increase by between 120 to 180 percent.
Oxfam UK’s report puts up to half of this predicted increase down to climate change.
However, the report criticises the private sector urging companies to shift to a business model where profit does not come at the expense of poor producers, consumers and the environment.
The report also highlights the problems of the United States and EU policy that ensures 15 per cent of the world’s maize is used to make fuel.
As a result, even in times of severe food crisis, countries with starving populations are being forced to turn their grain into biofuel rather then food.
The report points out that the amount of grain required to fill the petrol tank of a 4×4 vehicle with biofuel is sufficient to feed one person for a year!
Oxfam Chief Executive Barbara Stocking said: ‘We are sleepwalking towards an avoidable age of crisis.
‘One in seven people on the planet go hungry every day despite the fact that the world is capable of feeding everyone.
‘The food system must be overhauled if we are to overcome the increasingly pressing challenges of climate change, spiralling food prices and the scarcity of land, water and energy. We must consign hunger to history.’
• The growth of India’s economy has begun to slow as rising prices of basic food stuffs, inflation and interest rates spiral out of control.
Radhika Rao of Forecast Pte. said: ‘Raging inflation and a gradual increase in borrowing costs has dampened domestic demand, alongside lacklustre investment sentiment.’
The Indian Central Bank has increased interest rates nine times in the last 15 months.
• The price of a tonne of aluminium has doubled since March 2009 and this has had its effect on car manufacture.
BMW has been forced to pay a surcharge for metal used in their manufacturing processes, which no doubt will drive up the cost of buying a BMW.
Coffee company Starbucks’ chief executive Schultz has also lashed out as it has been affected by the fact that the price of Arabica coffee beans has doubled.
