GEOG 216 Lecture Notes - 1997 Asian Financial Crisis, Biofuel, September 11 Attacks
5 Dec 2012
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Document Summary
Globalized networks of farming, food processing and retailing. Basic determinants of trade in fruits and vegetables: supply side, climate location and trade agreements. Satellite technologies: demand side, consumption is positively correlated with income growth and urbanization (increased information and education, demand increases for more variety and convenience, year-round demand for high-quality products. Global food shortages: since the green revolution we haven"t had to think about this. What caused the price jump in food prices: accumulation of past issues, possibility of climate change, oil prices, biofuels. General issues: accumulation of past issues: supply side, new technologies. Heavy machinery --> compact soil, soil erosion: shift away from rural development in poorer countries fertilizers. Export crops not subsistence crops: trader speculation increase trade speed. Globalization: protectionist policies, political choices war, demand side, population growth, demand increases from emerging economies. 2005-2008: trend reversed in ~50 years of declining food prices. Convergence of valuation between petroleum and agricultural commodities.
