Energy News  
China food costs soar, Philippines unveils plan

by Staff Writers
Manila (AFP) April 16, 2008
The Philippines announced Wednesday it would spend one billion dollars to increase rice production, while China said food prices were up 21 percent in the face of a deepening global food crisis.

With public anger spilling over into unrest in some places, nations around the world have been urgently trying to limit the fallout from the soaring costs of basic items such as rice, a staple food for much of the planet.

But with several countries curbing exports to ensure supplies at home, prices have continued to rise -- worsening the problem for nations that cannot grow enough to feed their people and rely on imports to make up the difference.

The Philippines, which imports more rice than any other country, unveiled plans to spend a billion dollars in a bid to become self-sufficient in rice and other vital crops by 2010.

The government said it wanted "stable supply and prices," and that President Gloria Arroyo would ask lawmakers to approve new legislation allowing farmers to use their land as collateral for bank loans.

A vast collection of more than 7,000 islands where one in three people lives on less than a dollar a day, the Philippines has already deployed the military to guard rice deliveries in parts of its teeming capital Manila.

Arroyo warned on Tuesday that the government planned a crackdown on anyone stealing rice or trying to "divert supplies or pervert the price of this essential commodity in any way."

The announcement came a day after Indonesia banned its farmers from selling rice abroad and Kazakhstan, one of the world's top producers of wheat, halted foreign sales.

The bans mean that countries still exporting will be faced with increased demand, which pushes prices still higher and could in turn lead to more curbs -- a vicious cycle that has more than doubled rice prices since January.

China said food prices were up 21 percent in the first three months of the year, a staggering increase that contributed to slowing growth in the world's fastest-expanding major economy.

"Since last year, food has been the main factor behind inflation, and it very much remains the case this year," said Li Xiaochao, the spokesman for China's National Bureau of Statistics.

He said inflation was 8.3 percent in March, not far off the 12-year high of 8.7 percent the previous month.

The food crisis has quickly leapt to the top of the international political agenda -- not least because of violent unrest in several nations including Egypt, Cameroon and Haiti, where the prime minister was ousted as a result.

"We estimate that a doubling of food prices over the last three years could potentially push 100 million people in low-income countries deeper into poverty," Robert Zoellick, president of the World Bank, said on Sunday.

"This is not just a question about short-term needs," he said.

The United States on Tuesday promised 200 million dollars to help poor nations combat the food crisis, which has been accompanied by a steep rise in prices for other commodities such as fuel.

Oil hit a record high of 114.49 dollars per barrel on Wednesday, and analysts warn that mounting food and fuel costs could lead to further demonstrations and unrest.

Thousands of Bangladeshi textile workers on Tuesday defied a government ban on protests and went on strike over low wages and the cost of food.

burs-mc/pst

Community
Email This Article
Comment On This Article

Related Links
Farming Today - Suppliers and Technology



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


World must reform agriculture now or face dire crisis: report
Nairobi (AFP) April 15, 2008
The world will face social upheaval and environmental disasters if agriculture is not radically reformed to better serve the poor and hungry, a landmark UN-sponsored report said Tuesday.







The content herein, unless otherwise known to be public domain, are Copyright Space.TV Corporation. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space.TV Corp on any Web page published or hosted by Space.TV Corp. Privacy Statement