FAO Initiative to Counter Soaring Food Prices

To help small farmers and vulnerable households lessen the negative effects of rising food prices and agricultural inputs, the Food and Agriculture Organization of the United Nations (FAO) has approved a series of projects in 54 countries for a total value of US$ 21 million. The effort is to make available agricultural inputs, such as seeds and fertilizers, to increase food production. FAO said that increased food production would help cushion small farmers, who often have to buy a part of their food from markets with rising food prices. This would hopefully lead to a surplus production that could be sold, thus helping to bring price back down.

The UN agency said that their initiative is intended to produce a salutary catalytic effect that will encourage donors, financial institutions and national governments to support the provision of inputs on a much larger scale. In Africa for instance, at least a total of US$1.7 billion will be needed to start reviving agricultural systems that have been neglected for several decades.

Read the complete article at http://www.fao.org/newsroom/en/news/2008/1000877/index.html