Yes, sharemarkets around the world are down substantially and there is even talk of recession in some countries, like the USA. That said, there are still many "rich" countries around the globe - and countries like the USA, Australia, the UK and those in the EU are spending money on all manner of things including on the military. Just think of the ongoing cost of the war in Iraq and the military intervention in Afghanistan.
It therefore more than disturbing to read of a possible worldwide shortage of food and the inability of the UN World Food Programme to adequately meet the needs of those it supports.
FT reports in "High food prices may force aid rationing":
"The United Nation’s agency responsible for relieving hunger is drawing up plans to ration food aid in response to the spiralling cost of agricultural commodities.
The World Food Programme is holding crisis talks to decide what aid to halt if new donations do not arrive in the short term.
Why are food prices rising?
View our multimedia feature on the factors that contribute to global food price inflation
Josette Sheeran, WFP executive director, told the Financial Times that the agency would look at “cutting the food rations or even the number or people reached” if donors did not provide more money.
“Our ability to reach people is going down just as the needs go up,” she said.
WFP officials hope the cuts can be avoided, but warned that the agency’s budget requirements were rising by several million dollars a week because of climbing food prices.
The WFP crisis talks come as the body sees the emergence of a “new area of hunger” in developing countries where even middle-class, urban people are being “priced out of the food market” because of rising food prices.
The warning suggests that the price jump in agricultural commodities – such as wheat, corn, rice and soyabeans – is having a wider impact than thought, hitting countries that have previously largely escaped hunger.
“We are seeing a new face of hunger in which people are being priced out of the food market,” said Ms Sheeran."
It therefore more than disturbing to read of a possible worldwide shortage of food and the inability of the UN World Food Programme to adequately meet the needs of those it supports.
FT reports in "High food prices may force aid rationing":
"The United Nation’s agency responsible for relieving hunger is drawing up plans to ration food aid in response to the spiralling cost of agricultural commodities.
The World Food Programme is holding crisis talks to decide what aid to halt if new donations do not arrive in the short term.
Why are food prices rising?
View our multimedia feature on the factors that contribute to global food price inflation
Josette Sheeran, WFP executive director, told the Financial Times that the agency would look at “cutting the food rations or even the number or people reached” if donors did not provide more money.
“Our ability to reach people is going down just as the needs go up,” she said.
WFP officials hope the cuts can be avoided, but warned that the agency’s budget requirements were rising by several million dollars a week because of climbing food prices.
The WFP crisis talks come as the body sees the emergence of a “new area of hunger” in developing countries where even middle-class, urban people are being “priced out of the food market” because of rising food prices.
The warning suggests that the price jump in agricultural commodities – such as wheat, corn, rice and soyabeans – is having a wider impact than thought, hitting countries that have previously largely escaped hunger.
“We are seeing a new face of hunger in which people are being priced out of the food market,” said Ms Sheeran."
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