Calls for end to food tariffs

http://www.interest.co.nz

Panel 1 with this chart
UN chief Ban Ki Moon
Calls for end to food tariffs
To improve food shortage
Wants output doubled
Criticised biofuels

Panel 2
Greens want Fonterra subsidies
Subsidies are wrong
Make poor hungrier
Genocide by remote control

United Nations chief Ban Ki Moon
Called on rich nations to drop farming subsidies and trade barriers
Crisis summit on world food
World Bank reckons higher food prices will push 100 million people into hunger
Mr Ban reckons dealing with the food crisis could cost US$20 bln
He thinks food supply needs to double by 2030 to solve world hunger
Surprisingly he targeted subsidies and tariffs
EU spends $62 billion a year on CAP
US spends many billions more
Mr Ban also criticized others such as China and Japan who have restricted exports
Japan agreed to re-export 300,000 of exported rice
Mr Ban criticized the shift in land use and food use into biofuels
US plans to use quarter of maize crop for biofuels by 2022
Europe wants to get 10% of auto fuel from crops by 2020
Even in New Zealand, bastion of free trade, the Green Party has asked Fonterra to charge lower prices for milk in NZ than overseas, essentially a subsidy
Lesson is subsidies and tariffs stop rich countries buying food from poor countries
It also raises the price of food globally
Subsidies incentivize the wrong type of production
Subsidies and trade barriers cause starvation and poverty
They need to be dropped
Rich are protecting their farmers
Allowing poor people to starve and keeping prices high for all

European bureaucrats CAP and US food lobbyists and lawmakers are committing by remote control a slow, insidious form of genocide

Duration : 0:2:58

Read the rest of this entry

Technorati Tags: , , , , , , , ,

Food price inflation 6%

http://www.interest.co.nz

Food price inflation 6% in year to April
Food prices up 0.3% in April from March
Not as bad as monthly growth rates in February and March
Pork, poultry, fruit and vege prices all fell in April, (Pork fried veges)
But gainers included food additives and condiments, confectionary, mutton and lamb prices (+7.3%)
(No pudding or lamb roasts) Fruit after dinner
What does it mean for Reserve Bank
As generally expected by the market
Maybe slightly lower
6% annual growth can’t be ignored
Reserve Bank still has an inflation problem
Weighing up slowing economy vs inflationary outlook
Most people say September cut, maybe as early as June 5
My bet is still on a December cut
RBNZ can’t afford a NZ dollar collapse

Duration : 0:2:18

Read the rest of this entry

Technorati Tags: , , , , , , , ,

Powered by Yahoo! Answers