2011 global food crisis

This week’s ScotiaMcLeod Market Watch (Dec. 3, 2010) ends with a sobering note titled “Global food crisis looms”:

The U.S. slashed forecasts for grains and other key crops due to production shortfalls, rising oil prices and high demand, reviving fears of a repeat of the global food crisis of 2007-08 when skyrocketing wheat, corn, soybean and rice prices caused panic and political unrest.

If that were coming from other sources, one might grumble, “Oh sure. The sky’s falling. Heard that before.” But the source is the market researchers for ScotiaMcLeod. Their purpose is simply to give investors insight into realities that will affect the value of stocks and commodities in the coming months. It’s about as objective as one can get.

For me, it’s a reminder of the importance of the food security aspect of the Garden City Lands. That open-land park is important for ecology, environmental responsibility, community wellness, and a host of other reasons that citizens have brought out, but its values for local food security are fundamental.


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