December 5, 2007

Expert says grain stocks down to early 1980s levels
 

The risks of food riots and malnutrition will surge in the next two years as the global supply of grain comes under more pressure than at any time in 50 years, Joachim von Braun, the head of the International Food Policy Research Institute, warned in an interview with The Guardian on Tuesday (December 4, 2007).

"Demand is running away. The world has been consuming more than it produces for five years now. Stocks of grain - of rice, wheat and maize - are down at levels not seen since the early 80s," said von Braun, whose organization is the world's largest alliance of agricultural researchers, economists, and policy experts.

"Over the next 12 to 24 months we are in a fairly risky situation. Large consuming nations, particularly China, will feel pressed to enter international markets to bid up prices to unusual levels," von Braun warned ahead of a speech Tuesday to the institute's annual general meeting in Beijing.