Guide for Policy and Programmatic Actions at Country Level to Address High Food Prices

[FAO’s Initiative on Soaring Food Prices]

In May 2008, as the world faced an acute food crisis brought on by rising food prices, FAO developed a “Guide for immediate country level actions” through its Initiative on Soaring Food Prices (ISFP). In August 2008, food prices reached their highest level in years. Despite the severity of the crisis, it was hoped that prices would eventually drop to less extreme levels. Estimates suggested that: “ 2017, when compared to the average of the observed prices during the period 2005-2007, the real price of wheat (deflated by the MUV) is expected to have increased by 2 percent; rice by 1 percent; maize by 15 percent; oilseeds by 33 percent; vegetable oils by 51 percent; and sugar by 11 percent.”1  In its 2010 Food Outlook Report, FAO issued a warning to the international community to prepare for harder times unless production of major food crops increased significantly in 2011.2 Food import bills for the world’s poorest countries were predicted to rise by 11 percent in 2010 and by 20 percent for low-income food-deficit countries. By passing a trillion dollars, the global import food bill will likely rise to a level not seen since food prices peaked in 2008, while prices of most commodities are up sharply from 2009. Contrary to earlier predictions, world cereal production had been forecast to contract by 2 percent rather than to expand by 1.2 percent as was anticipated in June 2010.

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Date and language
Jan 2011
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