The Global Food Crisis:Hype And Reality

Unrest over food, leading to “food riots” in some countries and dubbed as “food war” by the International Monetary Fund (IMF), has hogged the headlines lately. But the depressing news have turned bizarre as proponents of neo-liberal globalization (the IMF included) have used the issue to push for more neo-liberal restructuring in food and agriculture, leading many to believe that the global food crisis is hyped. Most of the “food riots” are happening in underdeveloped countries where workers and peasants have become less and less able to afford food due to rocketing prices. Ironically, these are happening while giant agribusiness transnational corporations (TNCs) such as Cargill and grain traders such as Archer Daniels Midland (ADM) have increased their profits as of the first quarter of 2008 by 86% and 67%, respectively. Ironically still, here come the IMF, the World Bank, Asian Development Bank (ADB), UN Food and Agriculture Organization (FAO), and the World Trade Organization (WTO) with solutions leading to greater globalization, in particular the resumption and completion of WTO talks and agreements, which have in the first place aggravated the global food crisis and intensified TNC profiteering.


Title: The Global Food Crisis:Hype And Reality
Authors: Pesticide Action Network Asia Pacific
Tags: food crisis
small farmers
Date: 13-Jul-2008
Publisher: Pesticide Action Network Asia Pacific
Category Type: Reports
Appears in Sub-Collections:Food crisis


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