436. Uncertainty and Food Security
The timing of the report on the Omicron mutant strain, which comes two years after the new coronavirus infection was first reported in November 2019, has the world focused on the impact of its infectious and virulent nature on economic recovery.
The IMF Blog on December 3 noted that the uncertainty caused by the Omicron variant, coupled with the recent spike in fuel and food prices, has left some countries in the world with the difficult task of managing economic recovery and controlling inflationary pressures. However, the situation varies from country to country, with Japan experiencing deflation and both advanced and emerging economies struggling to control inflationary expectations for their own reasons.
According to the IMF Blog on December 6, the recent rise in global food prices is due to high oil prices (contributing to higher fertilizer and transport costs), drought, export restrictions, and stockpiling in some countries. In addition, infection control measures during the pandemic disrupted production due to shortage of inputs and laborers during the planting season.
In sub-Saharan Africa, inflation is severe, as many households in low-income countries are forced to spend about 40% of their household budget on food. In fact, food prices have pushed up the consumer price index (CPI) during the pandemic. However, there are large regional differences with some countries experiencing almost no food price inflation and others experiencing inflation of 30%, depending on factors such as weather and exchange rates. Either way, rising food prices through a mismatch of compounding factors to food demand and supply threaten food security.
In the JIRCAS-CCFS Society Workshop to be held online on December 17, up-and-coming researchers will discuss the impact of climate change and the COVID-19 on food supply and demand - food security under uncertainty. Please register and join us.
Effects of Climate Change and the Spread of COVID-19 on Food Supply and Demand - Food Security under Uncertainty
Organizers: JIRCAS, CCFS Society
Date: December 17 (Fri), 2021, 11:30 - 16:15 JST (Site opens at 11:00)
Format: Online (Zoom)
Registration: JIRCAS-CCFS Society Workshop Secretariat
Deadline: Dec16 (Thu), 2021, 17:00 JST
Note: Registration is limited to 500 applicants.
Contributor: IIYAMA Miyuki (Director, Information Program)
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