How to reduce escalating food prices?

As the USD weakens and climatic, political and social issues emerge in certain parts of the world, the commodities prices has spiralled up dramatically. Consequently, the cost of producing food has also sky-rocketed. What can we do to reduce food price? The good news is that, food commodities, unlike oil and minerals which are finite, may not last very long (I hope), it is important all of us be wise enough to do our bit. Besides the proposals to provide additional funding to the poor, improving agricultural policies or equip farmers with new farming technologies, here are some steps the Authorities and Consumers could do NOW:-

1) reduce import and export duties on food. This would substantially lowered food prices; ie a more "liberal" approach rather than "protectionism" policy;

2) let local currency appreciates more;

3) Develop approaches that reduced the reliance of crops to form bio fuel eg corns now are being shared between human, animal and bio-fuel production. It is a case of environmental against human needs and affordability;

4) Eat more vegetables instead of meat, as it is cheaper and faster to grow crops rather than rearing animals for their meat;

5) Be more wiser when preparing or ordering food and avoid wastage of food. The Chinese custom especially of ordering hugh amount of food to "show off" to business associates/family/friends needs to stop;

6) Buy only the necessary, don't buy more than required. Due to the escalating commodities prices, farmers will be planting more and more crops(and possibility of hoarding), which will ultimately resulting a glut in supply. If the supply is more than demand, prices will eventually fall;

7) Concerted intervention by Governments in the Commodities Exchanges or Money Markets to get rid of speculators and hedge funds. Is it possible given most Governments favour no intervention?;

8) Governments must besides checking on unscrupulous wholesalers and retailers raising of food prices for exorbitant profit and building adequate stock levels, it must also ensure the growth of the country is much faster than the rise of inflation to ensure we have a positive real GDP growth so that we can all still be "affordable".

The above suggestions may not be all and may be just baby steps towards fighting increasing food prices but are mighty steps forward. Any other suggestions on these baby steps? Aiyah, my daily "chap fan" with a meat and vegetable cost me RM4.50 already...


* Earth Day is a name used for two different observances, both held annually during spring in the nothern hemisphere, and autumn in the southern hemisphere. These are intended to inspire awareness of and appreciation for the Earth's environment(wikipedia) Earth Day promotes healthy and sustainable environment and clean energy. It hopes to raise awareness against deterioration of the environment and global warming.