GEOG 216 Lecture : Global Food Security
23 Nov 2012
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Document Summary
Globalized networks of farming, food processing, and retailing. Basic determinants of trade in fruits and vegetables. Consumption is positively correlated with income growth + urbanization (increase info + edu) Demand increases for more variety + convenience. 1997/98: oil price are down b/c asian econ crisis (not as much production, not as much demad, oversupply world economy) 2001: opec able to cut down supply to raise prices. 9/11 attacks: reduction in output, oversupply of oil, opec has to respond. Give farmers tax credits, grants mainly to corn producers in us. B/c of oil prices, ppl became concerned (us, gov decide subsidize ethanol indus) Ea/time oil prices increase, increase demand for production of biofuels. 2005-2008: trend reversed in ~50 years of declining food prices. Convergence of valuation b/w petroleum + agricul commodities increase in food prices. Rapid expansion of gl/biofuel production food insecurity for poorer countries.
