Letter to President Obama on the Global Food Crisis

GCF-Fu policy letters, Publications

In 2008, the price of basic food staples rose by incredible proportions. Between May 2007 and March 2008, hard red winter wheat rose 137 percent, from July 2007 to June 2008 corn prices rose 98 percent. Other food commodities rose in a similar fashion putting daily sustenance out of reach for 200 million more people in the developing world. Families used to buying kilos of food were only able to buy cups of the same food items. People went hungry. Children stopped growing for months at a time, others perished. The steep price run-up was followed by a sudden slide in commodity prices. Currently, some food commodity prices have decreased to levels that have forced farmers in the developing world and the United States from their farms. The world’s food commodities’ markets have become dangerously and unacceptably volatile.

food Crisis letter 03-24-08