Food price crisis

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A food price crisis may refer to changes in the food marketplace that result in food prices that interfere with food security. These events can be both local to one country or region, or international involving the whole food system.

Recent international events described as food price crises include:

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<span class="mw-page-title-main">Hunger</span> Sustained inability to eat sufficient food

In politics, humanitarian aid, and the social sciences, hunger is defined as a condition in which a person does not have the physical or financial capability to eat sufficient food to meet basic nutritional needs for a sustained period. In the field of hunger relief, the term hunger is used in a sense that goes beyond the common desire for food that all humans experience, also known as an appetite. The most extreme form of hunger, when malnutrition is widespread, and when people have started dying of starvation through lack of access to sufficient, nutritious food, leads to a declaration of famine.

<span class="mw-page-title-main">Food security</span> Measure of the availability and accessibility of food

Food security is the availability of food in a country and the ability of individuals within that country (region) to access, afford, and source adequate foodstuff. The availability of food irrespective of class, gender or region is another element of food security. Similarly, household food security is considered to exist when all the members of a family, at all times, have access to enough food for an active, healthy life. Individuals who are food secure do not live in hunger or fear of starvation. Food insecurity, on the other hand, is defined as a situation of " limited or uncertain availability of nutritionally adequate and safe foods or limited or uncertain ability to acquire acceptable foods in socially acceptable ways." Food security incorporates a measure of resilience to future disruption or unavailability of critical food supply due to various risk factors including droughts, shipping disruptions, fuel shortages, economic instability, and wars.

Crisis management is the process by which an organization deals with a disruptive and unexpected event that threatens to harm the organization or its stakeholders. The study of crisis management originated with large-scale industrial and environmental disasters in the 1980s. It is considered to be the most important process in public relations.

<span class="mw-page-title-main">Food distribution</span>

Food distribution is the process where a general population is supplied with food. The Food and Agriculture Organization (FAO) considers food distribution as a subset of the food system. The process and methodology behind food distribution varies by location. Food distribution has been a defining characteristic of human behavior in all societies, and recordings of food distribution date back for thousands of years. Most governments and societies are highly shaped by the systems created to support food distribution.

The New England Complex Systems Institute (NECSI) is an independent American research institution and think tank dedicated to advancing analytics and its application to the challenges of society, and the interaction of complex systems with the environment. NECSI offers educational programs, conducts research, and hosts the International Conference on Complex Systems. It was founded in 1996 and is located in Cambridge, Massachusetts.

<span class="mw-page-title-main">Humanitarian crisis</span> Large threat to the health and safety of many people

A humanitarian crisis is defined as a singular event or a series of events that are threatening in terms of health, safety or well-being of a community or large group of people. It may be an internal or external conflict and usually occurs throughout a large land area. Local, national and international responses are necessary in such events.

<span class="mw-page-title-main">World Food Day</span> International day of food security

World Food Day is an international day celebrated every year worldwide on October 16 to commemorate the date of the founding of the United Nations Food and Agriculture Organization in 1945. The day is celebrated widely by many other organizations concerned with hunger and food security, including the World Food Programme, the World Health Organization and the International Fund for Agricultural Development. WFP received the Nobel Prize in Peace for 2020 for their efforts to combat hunger, contribute to peace in conflict areas, and for playing a leading role in stopping the use of hunger in the form of a weapon for war and conflict.

Famine scales are metrics of food security going from entire populations with adequate food to full-scale famine. The word "famine" has highly emotive and political connotations and there has been extensive discussion among international relief agencies offering food aid as to its exact definition. For example, in 1998, although a full-scale famine had developed in southern Sudan, a disproportionate amount of donor food resources went to the Kosovo War. This ambiguity about whether or not a famine is occurring, and the lack of commonly agreed upon criteria by which to differentiate food insecurity has prompted renewed interest in offering precise definitions. As different levels of food insecurity demand different types of response, there have been various methods of famine measurement proposed to help agencies determine the appropriate response.

<span class="mw-page-title-main">Latin American debt crisis</span> Financial crisis during the 1970s and 1980s

The Latin American debt crisis was a financial crisis that originated in the early 1980s, often known as La Década Perdida, when Latin American countries reached a point where their foreign debt exceeded their earning power, and they could not repay it.

<span class="mw-page-title-main">Food security in Malawi</span>

Malawi is one of the world's undeveloped countries and is ranked 170 out of 187 countries according to the 2010 Human Development Index. It has about 16 million people, 53% of whom live under the national poverty line, and 90% of whom live on less than $2 per day.

A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy.

<span class="mw-page-title-main">Famine Early Warning Systems Network</span> USAID website

FEWS NET, the Famine Early Warning Systems Network, is a website of information and analysis on food insecurity created in 1985 by the United States Agency for International Development (USAID), and the US Department of State, after famines in East and West Africa. In 2008, Molly E. Brown argued that during its twenty years of activity, FEWS NET had been extremely successful. She said that it was widely viewed as "the most effective program in existence for providing information to governments about impending food crises".

The grain trade refers to the local and international trade in cereals such as wheat, barley, maize, and rice, and other food grains. Grain is an important trade item because it is easily stored and transported with limited spoilage, unlike other agricultural products. Healthy grain supply and trade is important to many societies, providing a caloric base for most food systems as well as important role in animal feed for animal agriculture.

In financial economics, a liquidity crisis is an acute shortage of liquidity. Liquidity may refer to market liquidity, funding liquidity, or accounting liquidity. Additionally, some economists define a market to be liquid if it can absorb "liquidity trades" without large changes in price. This shortage of liquidity could reflect a fall in asset prices below their long run fundamental price, deterioration in external financing conditions, reduction in the number of market participants, or simply difficulty in trading assets.

<span class="mw-page-title-main">Food riot</span> Riot caused by shortages or unequal distribution of food

A food riot is a riot in protest of a shortage and/or unequal distribution of food. Historical causes have included rises in food prices, harvest failures, inept food storage, transport problems, food speculation, hoarding, poisoning of food, and attacks by pests.

<span class="mw-page-title-main">2007–2008 world food price crisis</span> World food prices increased dramatically in 2007 and the 1st and 2nd quarter of 2008

World food prices increased dramatically in 2007 and the first and second quarter of 2008, creating a global crisis and causing political and economic instability and social unrest in both poor and developed nations. Although the media spotlight focused on the riots that ensued in the face of high prices, the ongoing crisis of food insecurity had been years in the making. Systemic causes for the worldwide increases in food prices continue to be the subject of debate. After peaking in the second quarter of 2008, prices fell dramatically during the late-2000s recession but increased during late 2009 and 2010, reaching new heights in 2011 and 2012 at a level slightly higher than the level reached in 2008. Over the next years, prices fell, reaching a low in March 2016 with the deflated Food and Agriculture Organization (FAO) food price index close to pre-crisis level of 2006.

<span class="mw-page-title-main">Global Hunger Index</span> Tool that measures and tracks hunger

The Global Hunger Index (GHI) is a tool that attempts to measure and track hunger globally as well as by region and by country, prepared by European NGOs of Concern Worldwide and Welthungerhilfe. The GHI is calculated annually, and its results appear in a report issued in October each year.

Food prices refer to the average price level for food across countries, regions and on a global scale. Food prices affect producers and consumers of food. Price levels depend on the food production process, including food marketing and food distribution. Fluctuation in food prices is determined by a number of compounding factors. Geopolitical events, global demand, exchange rates, government policy, diseases and crop yield, energy costs, availability of natural resources for agriculture, food speculation, changes in the use of soil and weather events directly affect food prices. To a certain extent, adverse price trends can be counteracted by food politics.

<span class="mw-page-title-main">Food security during the COVID-19 pandemic</span> Famines related to the pandemic caused by coronavirus disease 2019.

During the COVID-19 pandemic, food insecurity has intensified in many places – in the second quarter of 2020 there were multiple warnings of famine later in the year. In an early report, the Nongovernmental Organization (NGO) Oxfam-International talks about "economic devastation" while the lead-author of the UNU-WIDER report compared COVID-19 to a "poverty tsunami". Others talk about "complete destitution", "unprecedented crisis", "natural disaster", "threat of catastrophic global famine". The decision of WHO on March 11, 2020, to qualify COVID as a pandemic, that is "an epidemic occurring worldwide, or over a very wide area, crossing international boundaries and usually affecting a large number of people" also contributed to building this global-scale disaster narrative.

During 2022 and 2023 there were food crises in several regions as indicated by rising food prices. In 2022, the world experienced significant food price inflation along with major food shortages in several regions. Sub-Saharan Africa, Iran, Sri Lanka, Sudan and Iraq were most affected. Prices of wheat, maize, oil seeds, bread, pasta, flour, cooking oil, sugar, egg, chickpea and meat increased. The causes were disruption in supply chains from the COVID–19 pandemic, an energy crisis, the Russian invasion of Ukraine and some Significant floods and heatwaves in 2021 destroyed key crops in the Americas and Europe. Spain and Portugal experienced droughts in early 2022 losing 60-80% of the crops in some areas.

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