Jul 05 2008
World Bank Report blames America for food scarcity!
World Bank report published in a London based news daily, ‘Guardian’, says that the global food scarcity and soaring inflation is because of increasing production of Bio-fuels in America.
President George W Bush’s accusation on China and India for causing inflation and scarcity of food has been substantiated proved wrong by this report published on Friday. The report further said that Bio fuel production which mainly uses food crops like Maize, rapeseed and soybean hiked the price to 75 %. This statement also proved wrong the president Bush’s claim of 3% rise in prices.
More then 100 million people would be affected with inflation and food scarcity. The European countries like America are widely depending on Bio fuels is the only issue of inflation and the scarcity of food grains.
At the same time, the growth of the food grains is not on par with developing economy in some countries, is also another major factor. The uncontrollable surging prices of food grains pushed millions of families into famine. Families are left on modest diet because of soaring inflation rate and increasing food prices. A common man is unable to meet their daily requirements and govt. is unable to find any solution to stop this crisis.
One response so far
Bush’s statement was already proved wrong by an economist who pointed out that using bio-fuels and converting the foodgrains into bio-fuels is one of the main reason for the world food crisis.Now UN has openly come out with the statement.It is already a well known factor.
Above all US president Bush is not an economist.The Republican President’s tenure is going to end In January, 2009.In my humble opinion we need not give much credence to the statement of of an outgoing president and the most inmportant of a person whose country’s economy is sagging and whose peoples have turned to fruggal ways of living.Don’t worry.rabasure