Though it has always been stated that the primary needs of man are food, clothing and shelter, the most essential thing of these necessary for human survival and existence is food without which life would almost be impossible. This fact has been proved by the figures of death recorded during famines which sweep away the entire population of the land it strikes. The food packets being dropped during natural calamities are another proof that denotes its importance. Taking these factors in account, it becomes obvious that food is an inevitable and necessary factor required by the rich and poor alike for satiating one of the basic human requirements of hunger for survival. However, when the prices of such a basic and essentially required commodity starts increasing, conflict amongst the masses is predictable. Witnessing a rise in the prices of food commodities globally, top UN officials have warned that the rising food prices worldwide can spark unrest and threaten political stability. The statement has been issued by Sir John Holmes, undersecretary general for humanitarian affairs and the UN’s emergency relief coordinator after two days of continuous riots in Egypt and other parts of the world over doubled rates of basic food commodities around the world. The prices of food commodities have escalated globally on an average by 40% in the last one year. The increasing food and fuel prices are said to have damaging effects all over the world coupled with the disaster of climate change due to global warming. Explaining this Sir John Holmes said, The security implications should also not be underestimated as food riots are already being reported across the globe. Current food price trends are likely to increase sharply both the incidence and depth of food insecurity. In addition to this, the major Asian exporters of rice such as Bangladesh, China, India, Indonesia, Burma, the Philippines and Thailand have started hoarding rice in their countries to feed the population of their countries. This has led to further food crisis fueling up the prices. The economists and environmentalists both warn that though climate change due to global warming is a burning issue, the hiking food and fuel prices are as important and damaging with a parallel time scale and have to be tackled immediately.
News Of Economy January 29, 2012