MANILA, Philippines (AP) - Southeast Asian countries are concerned the global economic meltdown may hurt agricultural investment, sparking massive layoffs that could make access to food even more difficult for the poor, diplomats said Tuesday.
Officials from the Association of Southeast Asian Nations dealing with agriculture and food met their U.N. counterparts Monday for a two-day conference in Manila to discuss the stability of Southeast Asia's food supply amid such problems as climate change, spiraling commodity prices and the global economic crunch.
"There are... very few lingering doubts that the present global financial crisis... will have dire consequences on the access to food of vulnerable groups in developing countries," said a paper issued to conference delegates.
As economies contract, many businesses will likely resort to layoffs and "access to food will be savage" for the unemployed, the document said.
"The financial crisis will diminish the purchasing power of consumers. That's the ultimate storm that consumers would not want," Philippine Agriculture Undersecretary Segfredo Serrano told reporters.
ASEAN official Somsak Pippopinyo said some delegates raised the possibility of a reduction of private investment in the agriculture industry amid hard economic times, a prospect that could set back farming programs aimed at bolstering food production.
Southeast Asia was hit hard earlier this year by steep increases in the price of rice, the region's staple, triggered by growing demand, rising fuel prices at the time, cuts in agriculture funding, financial speculation and bad weather.
Somsak said ASEAN has been discussing a proposed regional stockpile of rice and the establishment of a database and information dissemination system to alert member countries to any emerging food security problems.
The 10-nation bloc comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam - a region of more than half a billion people.
Officials from the Association of Southeast Asian Nations dealing with agriculture and food met their U.N. counterparts Monday for a two-day conference in Manila to discuss the stability of Southeast Asia's food supply amid such problems as climate change, spiraling commodity prices and the global economic crunch.
"There are... very few lingering doubts that the present global financial crisis... will have dire consequences on the access to food of vulnerable groups in developing countries," said a paper issued to conference delegates.
As economies contract, many businesses will likely resort to layoffs and "access to food will be savage" for the unemployed, the document said.
"The financial crisis will diminish the purchasing power of consumers. That's the ultimate storm that consumers would not want," Philippine Agriculture Undersecretary Segfredo Serrano told reporters.
ASEAN official Somsak Pippopinyo said some delegates raised the possibility of a reduction of private investment in the agriculture industry amid hard economic times, a prospect that could set back farming programs aimed at bolstering food production.
Southeast Asia was hit hard earlier this year by steep increases in the price of rice, the region's staple, triggered by growing demand, rising fuel prices at the time, cuts in agriculture funding, financial speculation and bad weather.
Somsak said ASEAN has been discussing a proposed regional stockpile of rice and the establishment of a database and information dissemination system to alert member countries to any emerging food security problems.
The 10-nation bloc comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam - a region of more than half a billion people.
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