Agribusiness vs. food security- more on the food crisis

Banglapraxis quotes Bretten Woods Project on the current food crisis and the skewed diagnosis by Development institutions:

The IFIs trace 15 per cent of the increase to higher energy and fertilizer costs linked to skyrocketing oil prices, and another 15 – 30 per cent to the impact of biofuels. They have been silent on the role of speculative financial capital, which Peter Rosset, researcher at the Centro de Estudios para el Cambio en el Campo Mexicano, calls “one of the most important” short-term causes. Other short-term factors include record-low food stocks and severe weather events such as last year’s Australian drought…

There is also enormous skepticism about the benefits of the current agribusiness model. The International Assessment of Agricultural Knowledge, Science and Technology for Development (IAASTD), a three-year high-level exercise, came under “enormous pressure” according to one high-level insider to conform with the findings of the Bank’s World Development Report on agriculture (see Update 58). In contrast to the WDR, the IAASTD emphasises food security, environmental sustainability, and traditional knowledge. It criticises trade liberalisation for undermining the agricultural sector and stresses the need to “preserve national policy flexibility”.

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