Food Supply Fears Mirror Oil Worries at Saudi Summit

Saudi Arabia’s emergency energy meeting next week brings together Western consumer countries threatened by soaring oil prices with Arab producers worried about scarce food supplies.

Record oil prices and their impact on the industrialised world will no doubt dominate the agenda, but food security could also feature as arid Middle East states worry about affordably feeding their rapidly growing populations.
Poor harvests, low stocks and rising demand have sent food prices to record highs, stoking protests, strikes and violence in Africa, Latin America, Asia and the Middle East. Dwindling water makes the issue more dramatic for the Gulf Arab region.

“We are entering a new arena here,” said chief economist John Sfakianakis at Saudi-based SABB bank.

“Just as Saudi Arabia is saying to the world, we will supply you with enough oil, they want the world to say to them, we will supply you with enough food.”

Planet Ark