Food Speculation


I came across this and thought ‘hunger’ has not been a priority or given publicity like the publicity given to ‘global war on terrorism’ or ‘ the bail on financial institutions’ I believe that if we fight hunger like we are currently doing on the fight against global terrorism or simply bailing financial institution, we could be fighting a ‘real and just war’  and eventually rid this globe of hunger or at least bring it to the barest minimum. The continuous food price hikes in an era of ‘improved agricultural technology, increased food production and increased ‘food aid’ at the same time very high food prices, famine, seems unacceptable and diabolical.

In the horn of Africa, especially in Rwanda, food price hikes affects poor people which is owed to the bankers speculation on the world markets . High food prices is now affecting lots of people in the developing countries and every day in the developed nations we hear how people are struggling to make daily ends meet. This resulted in 450 economist from across the world writing to the G20 finance ministers urging them to take action to curb excessive speculation on food commodities. Big investments banks like Barclays on price of staple food like wheat, maize, etc and causing high food prices and hunger eventually making millions of poor families around the world hungry and into deeper poverty

Economist from top universities in the UK have added their voice to the campaign to curb speculation on food prices by investment banks. Perhaps if erradicating hunger was considered as a ‘common good’ hunger could be greatly reduced. Of course there would always be some who would like to use the ‘principle of the commons’ to theirselfish ends, nevertheless it coud greatly reduce hunger and improve food security in this world.


One Response to “Food Speculation”

  1. ngoziokei Says:

    Hunger and poverty are powerful but similar terms. Poverty, Resignation,Gender discrimination are caused by hunger. %20 and %20power
    In sub-saharan Africa, 41% of the population lives on less than US$1 a day. The developing countries are really feeling the impact of this hunger. The developed countries should help the developing countries to deliver measurable results and provide a wealth of tools and knowledge to enhance/develop the economy, political and social aspects of all developing countries.
    Stiglitz, J, E. (2007, pages 284-287), Making Globalization Work, wrote the New Balance which the developed countries has to make sure that all hands are on desk, to increase the economical growth of the developing countries, by reducing poverty and the high cost of food/living.

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