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IFPRI: CORN PRICES COULD DOUBLE AGAIN
Dec. 7, 2010
BrownfieldAgNews reports:
A new study from the International Food Policy Research Institute (IFPRI) says even if we stopped greenhouse gas emissions today, we could still see the price of rice increase 31% and corn prices double by the year 2050.
The study from the Washington-based IFPRI was issued at the annual U.N. climate conference.
It says prices will be driven up by a combination of factors: a slowdown in productivity in some places caused by warming and shifting rain patterns, and an increase in demand because of population and income growth.
The IFPRI fed 15 scenarios of population and income growth into supercomputer models of climate and found that "climate change worsens future human well-being, especially among the world's poorest people." The study projects climate disruption in much of sub-Saharan Africa, south Asia and parts of Latin America including Mexico. One combination projects a significant decline in productivity in the corn belt of the United States.
IFPRI did note some of the impact could be offset by increased investment in research and development of higher-yielding varieties of corn, wheat and other crops, and by freer, more flexible global trade in food commodities.
Founded in the 1970's as an agricultural research center aimed at improving the understanding of international agriculture and food policy, IFPRI is part of a global network of research institutes funded by governments, private businesses and foundations, and the World Bank.
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