Tag Archives: food prices

morning-coffee

Waste Poses Food Risks For Future. Food For Thought?

According to the Food and Agriculture Organisation (FAO) of the UN, the world wastes a staggering 1.3 billion tonnes of food per year. Food waste at consumer level in industrialised countries (222 million ton) is almost as high as the total net food production in sub-Saharan Africa (230 million ton). Per capita, food wasted by consumers in Europe and North-America is 95-115 kg/year, while this figure in sub-Saharan Africa and South/Southeast Asia is only 6-11 kg/year. Such a massive waste is taking a toll on the world’s resources and the economy.

Food waste entered the spotlight last year when the UK’s largest retailer Tesco, hit the headlines after revealing that it produced 28,500 tons of food waste in the first six months of the year. The supermarket and not-for-profit company Waste and Resources Action Programme (WRAP) said that Tesco’s waste problem was part of a much larger issue, with the company estimating that 15 million tons of food and drink were simply thrown away each year across the UK.

It’s not just the retailers but the consumers too who are throwing away their food. With such a lot of food is being wasted, this creates a situation where the food that is available is more expensive and less people are able to get it. If the population were to grow at the rate it does and the world continues to waste as much food as it does, then ultimately somewhere down the line it could manifest itself in terms of a shortage.

The problem is how the Western world deals with food waste. The FAO can attempt to change the production process in the developing world but it can only highlight the food waste issue with industrialised nations. As it stands, in order to meet the 2050 population demand, food production needs to be raised by 60 per cent, therefore, food wastage reduction must play a part to lessen the burden on natural resources. So, next time you’re tempted by that $2 super-size cola, think twice and buy a smaller one! Food for thought?

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Corn

Corn’s Record Crop Overwhelms Demand

Although corn demand has been growing in the U.S., the world’s top corn grower has also put out a record crop this year that has seen stockpiles rise at the quickest pace in the last 19 years. Corn is used primarily to make livestock feed and ethanol.

On the first stock-taking at the end of harvest, in 1st December, reached around 10.764 billion bushels (273.4 million metric tons), and increase of 34 percent from just the year before. The number, in fact, has exceeded every inventory taking since 1994 and plentiful supplies could extent the drop in March futures by 10 percent.

A drought in 2012 had sent prices skyrocketing leaving reserves struggling to recover and spurring an output increase in producers from the U.S. to Brazil and Ukraine. Last month’s harvest, however, seems to have exceeded even the most optimistic of expectations, even as corn futures dropped 40 percent last year, leading the general commodity slump that has pushed global food costs down by 14 percent.

Experts anticipate that with the new figures in place, demand will take over two years to catch up to the surplus supply.

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