Monday, March 3, 2008

Soaring prices force US to cut food aid

Nation: See all that corn and wheat to make Ethanol is making this a twofer. High food prices and we get to starve the world's poor because people didn't think the whole thing out.

THE US will drastically reduce emergency food aid to some of the poorest countries this year due to soaring food prices, The Washington Post reports today.

Citing unnamed officials, the newspaper said the US Agency for International Development (USAID) was drafting plans to cut down the number of recipient nations and the amount of food provided to them.

A 41 per cent surge in prices of wheat, corn, rice and other cereals over the past six months has generated a $US120 million ($126.5 million) budget shortfall that will force the USAID to reduce emergency operations, the report said.

That deficit is projected to rise to $US200 million ($211 million) by the end of the year.

The USAID is reviewing all of the agency's emergency programs, which target countries like Ethiopia, Iraq, Somalia, Honduras and Sudan's Darfur region.

No comments:

Post a Comment