/ 3 April 2008

African ministers to tackle rising food prices

African ministers on Wednesday agreed to tackle rising food prices that have threatened the continent's fledgling stability and economic growth. Although the hike ''presents opportunities for increased food production in some of our countries'', the phenomenon is not sustainable and has to be tackled, they said.

African ministers on Wednesday agreed to tackle rising food prices that have threatened the continent’s fledgling stability and economic growth.

Although the hike ”presents opportunities for increased food production in some of our countries”, the phenomenon is not sustainable and has to be tackled, they said.

”The recent increase in international food prices … poses significant threats to Africa’s growth, peace and security,” they said in a joint statement at the end of an African economic and finance ministers’ meeting in Addis Ababa, Ethiopia.

”We will explore appropriate policies and measures to mitigate the effects of rising food prices on living standards, especially for vulnerable groups, while harnessing opportunities for increased food production presented by this phenomenon.”

United Nations Economic Commission on Africa (Uneca) chief Abdoulie Janneh said the continent must boost its food production.

”The main issue is about increasing Africa’s ability to feed itself … by improving yields and turning research and development results into production,” he added.

The ministers also said oil-importing and -exporting countries faced challenges as rising revenue would fuel increasing domestic demand that would cause prices to rise in producing countries.

”We underscore the need for countries to pursue alternative sources of energy, in light of the finite nature of gas and oil resources,” they said, reiterating the need to create an African Oil Fund to assist low-income African oil-importing countries.

On Tuesday, Uneca, in a report, said African economies expanded by 5,8% last year, but the growth had yet to be translated into social development.

The report predicted that the continent’s economies would grow by 6,2% in 2008 despite poor infrastructural development, high oil prices and political instability.

Over the weekend, a man was killed in Côte d’Ivoire and 24 others were arrested in Senegal in violent protests over rising food prices. — Sapa-AFP