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food prices contribute to food insecurity and place<br />
more negative impact on the developing world where<br />
consumers spend more on food.<br />
However, what is needed is to build long-term resilience.<br />
The background to the devastating impact of soaring<br />
and volatile food prices on the livelihood of the poor is<br />
20 years of under-investment in agriculture and neglect<br />
of the sector. Investing in agricultural productivity<br />
growth is paramount to addressing food price<br />
volatility. For the majority of poor countries a healthy<br />
agricultural sector is essential to reduce vulnerability<br />
to international price volatility, to overcome hunger<br />
and poverty and to also provide the platform for wider<br />
economic growth. The current situation in the Horn of<br />
Africa should be seen as a lesson to address both the<br />
immediate and long-term responses to the crisis and<br />
the need for predictable financial resources to tackle<br />
the root causes of famine and food insecurity. In this<br />
regard, the Government of Turkey has been showing<br />
the way to other donor countries.<br />
Investments in research and development targeted on<br />
small producers’ needs must be stepped up to restore<br />
productivity growth. At the 2009 World Summit on<br />
Food Security, FAO called for increased investment<br />
in agriculture to produce more food where the poor<br />
and hungry live. More than $80 billion of additional<br />
investment is required annually in agriculture and<br />
downstream activities to ensure food supplies for the<br />
world in 2050. To finance such investments, national<br />
governments will have to contribute significantly. In<br />
addition, the share of official development assistance<br />
destined for agriculture has to be significantly increased<br />
FAO and Food Price Volatility<br />
The current<br />
situation in the<br />
Horn of Africa<br />
should be seen as<br />
a lesson to address<br />
both the immediate<br />
and long-term<br />
responses to the<br />
crisis and the need<br />
for predictable<br />
financial resources<br />
to tackle the root<br />
causes of famine<br />
and food insecurity.<br />
In this regard, the<br />
Government of<br />
Turkey has been<br />
showing the way<br />
to other donor<br />
countries.<br />
Uluslararası <strong>Ekonomik</strong> <strong>Sorunlar</strong><br />
Kasım 2011 • Yıl: 11 • Sayı: 43<br />
27
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