. Energy News .

Argentina looks to soybean windfall
by Staff Writers
Buenos Aires (UPI) Sep 27, 2012

Ex-Aussie PM criticises UN on food security
Hong Kong (AFP) Sept 27, 2012 - Former Australian prime minister Kevin Rudd on Thursday criticised the UN food agency for failing to do enough on food security, as fears mount of a repeat of the 2007-2008 food crisis.

Rudd told a conference in Hong Kong that the leadership of the United Nation's Food and Agriculture Organization (FAO), based in Rome, needed to get its act together and not just release "another set of reports".

"The fact that we're having this kind of conference is an indictment of the failure of the FAO," he told the meeting -- titled "Feeding the world: Asia's Prospect of Plenty" -- which was organised by The Economist magazine.

"The execution of its mandate, which is food security, must now be done.

"A practical programme against the billions of people who are hungry in the world today needs to be done -- not another set of reports, not another set of committees. Action, action, action," he told reporters later.

The FAO has called for "swift, coordinated international action" this month as a sharp rise in maize, wheat and soybean prices renews fears of a looming food crisis.

Drought in the United States has pushed grain prices to record highs, and the FAO has cut its global 2012 rice output forecast due to low monsoon rainfall in India.

UN estimates say the world population is projected to increase by two billion people between 2012 and 2050 to around nine billion, with Asia accounting for more than half of the increase.

"Hunger is the world's most challenging problem," UN World Food Programme China director Brett Rierson said.

"There is a common perception that hunger is an African problem, but two-thirds of them are from Asia so hunger is here in Asia," he said.

Manila-based Asian Development Bank warned in April that food shortages could slow poverty reduction, and a rise of 10 percent in domestic food prices could push 64 million more Asians into poverty.

Argentine expectations of windfall profits from recent hikes in soybean prices are complicating the government's fraught relationship with farmers.

President Cristina Fernandez de Kirchner has earned the ire of farmers' representatives over tariff and taxation policies that the agriculture sector sees as an obstacle to its growth and equitable distribution of income among farmers.

Farmers' representatives and Fernandez have been at loggerheads over more or less the same issues -- taxation and government intervention -- before the president won a second term in office last year.

The landslide victory in October 2011 was welcomed by the president's supporters but greeted with dismay by farmers' groups who saw their demands ignored again.

Recent spikes in soybean markets gave Argentine officials cause to celebrate what they predicted would be a bonanza for Argentina amid sweeping austerity and deep cuts in imports.

Argentine agriculture experts are unconcerned over price drops in response to reports of high U.S. yields, pointing out that the upward trend in soy prices is likely to continue through 2013.

The soybean market isn't stable, however. Recent reports of big crops in Argentina, Brazil and other South American countries as well as the United States cast a shadow on the market. Traders said the price fluctuations are temporary.

Analysts said that soybean prices could still be affected by lower-than-expected soybean crush in the United States and declining demand from China.

Fears of low yields in Argentina and other South American countries in the path of La Nina drought phenomenon pushed prices up earlier in the year before calm returned to the markets.

Predictions of a drought-related scarcity of supplies, similar to that experienced in 2008-09, haven't been supported by events.

Analysts said the government's optimism over the soybean yields this year could still be misguided and the expected windfall might simply not occur.

La Nina also affected corn crops in Argentina and neighboring countries, a fact often not reported in the regional media.

A grains and oilseeds study estimates Argentina's soy crop could increase 38 percent in 2013, when world supply will become more dependent on South America because of anticipated smaller yields in China and the United States.

'The world market will become more and more dependent on South American supplies in March/September 2013 because of soybean inventories significantly lower in the U.S., China and other countries towards February 2013," Oil World consultancy said in a report.

At the beginning of next year South America will begin harvesting an enormous crop of soy with a strong export demand that will help alleviate the tight global supply, following the severe drought suffered in the Americas.

In this scenario Oil World estimates Argentina's soy crop to increase 38 percent to 56 million tons from the 40.5 million tons of 2012, while Brazil is expected to harvest 82 million tons compared to this year's 66.4 million tons, MercoPress reported.

Brazil and the United States lead the soybean market, with Argentina the immediate third major exporter of the commodity.

Other South American countries soybean crops are also expected to be bountiful, the study said, citing expected output in Bolivia, Paraguay and Uruguay.

Related Links
Farming Today - Suppliers and Technology

Get Our Free Newsletters Via Email
Buy Advertising Editorial Enquiries

Italy's Slow Food movement prepares giant food fair
Rome (AFP) Sept 27, 2012 - Italy's Slow Food movement announced plans Thursday to host the world's biggest gourmet food fair next month in the city of Turin with a particular focus on "the foods that change the world".

The Salone del Gusto fair will run October 25-29 and bring together 1,000 exhibitors from 100 countries in Europe, North America, Asia and Africa, as well as 350 producers of traditional foods defended by Slow Food.

The fair will run at the same time as a meeting of Terra Madre, a network of food communities across five continents including in the developing world.

"New policies on food can change the world," Slow Food founder Carlo Petrini told reporters in Rome, adding that the fair would also host around 40 conferences to discuss food rights, land grabbing and EU farm policy.

"Food has become just a good, particularly in Europe where farms are shutting down and farmers cannot survive on what they earn," Petrini said.

He called for a reduction in food waste, more education about food for children from a young age and a strengthening of local communities.

Petrini also said Europe should fund "a return to the land" by young people.

Petrini, a sociologist and former food critic, said he was pleased the head of the UN's Food and Agriculture Organisation (FAO), Jose Graziano da Silva, would attend the fair, which is held every two years.

Slow Food was founded in 1986 in reaction to the rise of fast food, and now counts around 100,000 members in 130 countries.


. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Italy's Slow Food movement prepares giant food fair
Rome (AFP) Sept 27, 2012
Italy's Slow Food movement announced plans Thursday to host the world's biggest gourmet food fair next month in the city of Turin with a particular focus on "the foods that change the world". The Salone del Gusto fair will run October 25-29 and bring together 1,000 exhibitors from 100 countries in Europe, North America, Asia and Africa, as well as 350 producers of traditional foods defended ... read more

Apple CEO sorry for maps shortcomings

China may toughen laws on 'illegal' mapping: state media

Radar altimetry gains altitude in Venice

Knight Foundation invests to accelerate data projects

Northrop Grumman to Improve Performance of MEMS Inertial Sensors for DARPA

Lockheed Martin Delivers Propulsion Core for the First GPS III Satellite

China launches another 2 navigation system satellites

Improved positioning indoors

Indonesian palm oil company loses permit on illegal logging

Organised crime moving into logging: UN, Interpol

Study Examines Forest Vulnerability to Climate Change

5,000-year-old tree unearthed in Britain

Most biofuels are not green

New Uses for Old Tools Could Boost Biodiesel Output

World's first biofuel jet flight to take off in Canada

Sorghum Eyed as a Southern Bioenergy Crop

Trina Solar Roadshow puts Installers on Fast Track

SolarAid and SunFunder Launch New Crowdfunding Project to Finance Solar Lighting in Zambia

KYOCERA Solar Modules Tested to Show Only Minimal Power Output Degradation After 20 Years in the Field

Dow Corning, LG Electronics and Seowon University Announce PV System Installations

US bars China wind farm deal on security grounds

Wind power faces tax credit uncertainty

Sufficient wind energy available to meet global demands without damaging climate

Report backs greater role for wind energy

Australian coal projects mega polluters?

Australian coal basin may be top 10 polluter: Greenpeace

Coal mining jobs slashed in Australia

China mine accident kills 10

Tibet PM calls for global support against China

Bo Xilai: China's fallen political star

Bereaved China elderly suffer under one-child norm

China court rejects artist Ai Weiwei's tax appeal

Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement