Global Food Crisis: From Urgent Short-term Responses to Viable Longer-Term Solutions Presentation to the Kennedy School Spring Exercise April 23, 2009. Christopher Delgado Strategy and Policy Adviser Agriculture & Rural Development World Bank.
Global Food Crisis: From Urgent Short-term Responses to Viable Longer-Term SolutionsPresentation to the Kennedy School Spring ExerciseApril 23, 2009
Strategy and Policy Adviser
Agriculture & Rural Development
Hypothesis: The higher price volatility of oil markets was transferred to corn markets as oil prices rose above $50/barrel and corn-based ethanol use increased over the past 3 years
Hypothesis: Food futures are increasingly tied to the more volatile behavior of non-agricultural commodities.
Source: Michael Masters, U.S. Senate testimony
Hypothesis: Global carryover grain stocks in the range of 14% to 20% of total usage now, compared to 30% to 35% in the late 1980s and 1990s, have been associated with more defensive policy stances (such as trade barriers, price wedges)
Hypothesis: Climate events are becoming more extreme under climate change, especially in the tropics, and these are likely to accelerate, leading to much higher volatility and even lower viability of grain self-sufficiency strategies
Getting in Gear….
External Trust Funds: MDTF Volatility
External Trust Funds: Russia Volatility
External Trust Funds: EC Volatility
Agricultural investment operations approved in 19 countries, are expected to reach 5.5 million farmers, carried out by regional staff in the Sustainable Development Network (SD) Family
The Vulnerability Financing Facility (VFF)
Sector Strategy: Reaching The Rural Poor (2003)
Ag ActionPlan: Go from $4 Billion to $6 Billion Annually By Operations That:
Economic and Sector Work (ESW): World Development Report 2008: Agriculture for Development