The three Rome-based UN agencies: Food and Agriculture Organisation (FAO), International Fund for Agricultural Development (IFAD) and World Food Programme (WFP) have raised fears of a repeat of the 2007-2008 world food crisis.

In a joint statement issued in Rome, the agencies noted that the world food market was characterised by sharp increases in maize, wheat and soybean prices.

The statement signed by the Director-Generals of the agencies — José Graziano da Silva of FAO, Kanayo Nwanze of IFAD and Ertharin Cousin of WFP —, stressed the need for a “swift, coordinated international action’’ to prevent another food crisis.

“We need to act urgently to make sure that these price shocks do not turn into a catastrophe hurting tens of millions over the coming months.

“Two interconnected problems must be tackled: the immediate issue of some high food prices, which can impact heavily on food import-dependent countries and on the poorest people;

“And the long-term issue of how we produce, trade and consume food in an age of increasing population, demand and climate change,’’ they said in the statement received on line in Abuja.

The chief executive officers said the agencies were currently in a better position to respond to the challenges than five years ago.

“ We have developed new policies and new instruments, like the United Nations High-Level Task Force on Global Food Security and AMIS, the G20’s Agricultural Markets Information System (AMIS), which improves transparency in global markets.

“We also have the AMIS-related Rapid Response Forum, set up to facilitate coordinated policy responses by the major world producers and traders of key cereals and soybeans in the event of market upheavals.

“We have learned that not all are affected in the same way – the urban and rural poor and people in food import-dependent countries are most vulnerable to international commodity price increases, when these are transmitted to local markets, because they spend the largest proportions of their incomes on food.

“We have also learned that small holder farmers, many of whom are also poor and food insecure, can be enabled to benefit from higher food prices and become part of the solution by reducing price spikes and improving overall food security.

“We have thus adopted a twin-track approach which supports long-term investments in agriculture, notably smallholder agriculture, while ensuring that safety-nets are in place to help poor food consumers and producers avoid hunger, asset losses and poverty traps in the short run.

“In responding to high food prices, the things we must avoid doing are just as important as the things we should do.

“In particular, countries must avoid panic buying and refrain from imposing export restrictions which, while temporarily helping some consumers at home, are generally inefficient and make life difficult for everyone else. ‘’

They, however stressed that high food prices were a symptom, and not the disease and therefore, urged the international community to take early action to prevent excessive price increases, while also addressing the root causes of the price spikes.

According to the agencies, there have been three international food price spikes in the last five years, with weather driving most of it.

Other contributing factors, they said, were drought, floods, increased diversion of food stock for non-food purposes and increased financial speculation.

“Until we find the way to shock-proof and climate-proof our food system, the danger will remain. In the short term, this has costs, not only for those directly impacted, but also for the international community at large.

For instance, the World Food Programme (WFP) estimates that every 10 per cent increase in the price of its food basket means it has to find an extra 200 million dollars a year for food assistance.

Reports say that in discharging their mandate, FAO, IFAD and WFP are helping poor people to eat today, while building their resilience and capacity to feed themselves tomorrow.

Meanwhile, the agencies have underscored the importance of increased investment in agriculture and social protection, including programmes that help poor people to access food.

They added that finding sustainable solutions to food price spikes would help them to repond to the “Zero Hunger” challenge set by UN Secretary-General Ban Ki-moon of eradicating hunger from the globe.