Thu, 3 Jul 21:47:27 GMT17

 

Arabs mull emergency fund to fight food inflation
05 May 2008 11:05:13 GMT
Source: Reuters
AMMAN, May 5 (Reuters) - Arab countries are mulling an emergency fund to help counter a global surge in food prices, Jordan's Agriculture Minister was quoted as saying on Monday.

Protests, strikes and riots have erupted in developing countries around the world after prices of wheat, rice, corn, oils and other essential foods rose more than 40 percent in the past year.

The World Food Programme has described soaring food prices as a "silent tsunami" that threatens to plunge more than 100 million people into poverty.

"There is an intention to set up an emergency fund to support Arab countries that suffer from the rise in prices of food products," Jordan's state news agency Petra quoted Muzahim Muhaisin as saying.

Arab agriculture ministers met last week in the Saudi capital Riyadh for a meeting of the Arab Organization for Agricultural Development but little emerged about plans to confront the surge in global food prices.

Muhaisin did not elaborate on the plan saying only it would seek to boost concerted action to tap "competitive advantages" offered in Arab countries.

Many Arab regimes have a history of intervening to tame protests against food inflation, from last month's protests in Cairo to the so-called "breadstick clashes" in Morocco in the early 1980s when dozens were shot dead.

Arab countries rely heavily on food imports, leaving them vulnerable to price changes on the international markets.

Inflation is also taking the shine off the rapid economic growth of Gulf oil exporters flush with windfall oil revenues. (Writing by Souhail Karam; Editing by Editing by Peter Blackburn)
AlertNet news is provided by

Related articles

Breaking stories
Africa ZAMBIA: Reports of the President's death "erroneous"

Africa 10 killed and 27 hurt in Egyptian land dispute

AlertNet insight
Asia Where's the global food crisis taking us?

Aid agency news feed
Cereal offenders

Blogs
Asia Damming for development: Lessons from Laos

Maps
Africa MAP: Weather hazards impacts assessment for Africa ( June 19 -25,2008)


Country information


Del.icio.us Del.icio.us  |   Digg Digg  |   NewsVine NewsVine  |   Reddit Reddit   
Thumb for /thefacts/imagerepository/RTRPICT/2008-07-03T120458Z_01_JER15_RTRIDSP_2_PALESTINIANS-EGYPT_mainimage.jpg|/thenews/pictures/JER15.htm
Thumb for /thefacts/imagerepository/RTRPICT/2008-07-03T120251Z_01_JER14_RTRIDSP_2_PALESTINIANS-EGYPT_mainimage.jpg|/thenews/pictures/JER14.htm
Thumb for /thefacts/imagerepository/RTRPICT/2008-07-03T120114Z_01_JER13_RTRIDSP_2_PALESTINIANS-EGYPT_mainimage.jpg|/thenews/pictures/JER13.htm
Thumb for /thefacts/imagerepository/RTRPICT/2008-07-02T141025Z_01_JER43_RTRIDSP_2_EGYPT-PALESTINIANS_mainimage.jpg|/thenews/pictures/JER43.htm
Thumb for /thefacts/imagerepository/RTRPICT/2008-07-02T140817Z_01_JER29_RTRIDSP_2_EGYPT-PALESTINIANS_mainimage.jpg|/thenews/pictures/JER29.htm

Palestinians wait for their relatives to cross from Egypt to the Gaza Strip at the Rafah border crossing July 3, 2008. Senior Hamas leader Ismail Haniyeh sought on Thursday to calm ...



URL: http://www.alertnet.org/thenews/newsdesk/L05119879.htm

For our full disclaimer and copyright information please visit http://www.alertnet.org