Raise agri investments to boost food security: FAO

NEW DELHI: UN's Food and Agriculture Organisation ( FAO) has said that international markets much like in 2008 are facing higher food commodity prices and called for increasing farm sector investments to meet the rising global demand.

"The expected growth in population from 6.9 billion people today to 9.1 billion in 2050 will require a 70 per cent increase in global food production and a 100 per cent increase in the developing countries", FAO Director-General Jacques Diouf said on its website.

"Share of agriculture in official development assistance fell from 19 per cent in 1980 to 3 per cent in 2006. Currently, it stands at 5 per cent.

Developing countries only allocate 5 per cent of their national budgets to the sector, instead of 10 per cent despite its contribution to gross domestic product, exports and the balance of payments", Diouf said.

He cites United Arab Emirates (UAE) as an example where investments in date palm development brought a turnaround in the gulf nation economy.

The date program made UAE the seventh largest date producer in the world, with 6 per cent of global date production, he said.

FAO DG's comments came at the opening of the third edition of the Khalifa International Date Palm Award on Tuesday.

Diouf also expressed concern over diversion of foodgrains. More than 100 million tonnes of cereals are diverted from food to biofuels on account of subsidies valued at USD 13 billion and tariff protection of the developed countries.

"If we add the impact of droughts, floods, hurricanes and other events exacerbated by climate change and the speculation on agricultural commodity futures markets, it becomes clear that the current situation is the chronicle of a disaster foretold," he added.