euro|topics - Who is to blame for the food crisis?

07/09/2008

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Main focus of Monday, May 19, 2008

Who is to blame for the food crisis?

The tone is increasingly acrimonious in the discussion about the global rise in food prices. Europe's press looks for the culprits - and possible solutions.

Magyar Hírlap - Hungary

"What are the hidden causes behind the food crisis? The fact is that the price of energy, which is indispensable for production and transport, is sky-rocketing. ... But what is having even more of an impact is the unscrupulous movement of venture capital. Given that it is now virtually impossible to make sizeable profits in the oil industry and in traditional financial sectors, the financial crisis is prompting investors to invest in agriculture! Investors are buying up production goods and fields and conspiring to keep the price of grain high. ... The solution is to immediately freeze the US and European biofuel programme. That proportion of venture capital which is aimed at making huge profits in the food industry should simply be penalised - even if such a step may appear unrealistic or impracticable in today's world." (19/05/2008)

Diário de Notícias - Portugal

Fernandes Ferreira comments on the food crisis and recent statements by US President George W. Bush: "With his usual diplomacy, Bush said that owing to their sudden increase in wealth, the Indians are responsible for the international rise in food prices. ... Americans are bursting at the seams. ... And that is exactly what the Indian authorities pointed out to Bush: 'Well then, let's get out the measuring tape!', and they offered their waists for comparison with the Americans. An American eats 3,770 calories per day, an Indian 2,440. The Indians also pointed out that the money Americans spend on liposuction is enough to cure world hunger. The Indians and the Chinese are eating more, and will continue to do so. And the world must learn to accept their new appetite." (16/05/2008)

La Repubblica - Italy

The newspaper reports on a plan for combating the food crisis which the European Commission will present tomorrow: "European Commission President José Manuel Barroso has no clear concept in response to the crisis. The document speaks of measures which should slow the rise in food prices ... such as promoting second and third generation biofuels inside and outside the EU. ... The document will draw fire, advising as it does a cautious opening of the EU to genetically modified foodstuffs, the cultivation of which is limited in Europe, as opposed to everywhere else in the world." (19/05/2008)

To Vima - Greece

Consumers are uninformed about the reasons for price increases, writes Richardos Someritis. "A few days ago we learned that fuel prices have risen faster here than in other countries. And for a long time we have known that immunity from the law, extortion and smuggling are rife in this area. We should also know that state hypocrisy is also rampant in this domain, because state incomes rise with petrol prices. ... But we remain in the dark as regards ... the extent to which daily increases in the international price of crude oil reflect reality. The same goes for basic agricultural products. We see that these prices have gone up, and that one consequence has been the steady rise in bread prices. But we learn nothing of the sudden price slumps that have taken place in international markets, such as the recent fall in grain prices, which however failed to have a direct effect on the price of bread." (18/05/2008)