AgWired

President of the American Farm Bureau Federation, Bob Stallman, just finished up his part of a panel discussion at World Agricultural Forum, entitled Strategies, Actions & Policies for Long-Term Security in Agriculture & Food Production.

Right at the outset, Stallman stressed the American farmers’ commitment to making sure that not only people in the U.S. are fed but that the entire world has enough to eat.

“Any hungry person should be great cause for concern to all of us.”

Stallman says agriculture needs to figure out how it will feed the 9 billion people who will live on the planet by the year 2050… on basically the same amount of land used to feed about 6 billion today (including the nearly 3 billion who now don’t get enough to eat). But, he says global hunger has less to do with production than it does with infrastructure and politics. “Hunger in the world today is not a lack of calories. It’s a problem of distribution,” he said.

Stallman says policies, in particular, the trade protections that too many developing countries insist upon, are some of the political decisions that are having a tremendous impact on world food supplies. He also defended biofuels, which had been a bit maligned during this session, as not being to blame for the spike in food prices the world has seen. Stallman pointed out that American farmers are getting better at sustainability practices.

Stallman tells the group in St. Louis that there are some solutions to the daunting tasks world agriculture will face over the next couple of decades.

“We must continue to seek out new production technology, adapt new production technology and not fear new production technology. Those countries that choose to turn their backs on tech will be left behind.”

Stallman says open borders and open trade are also part of the solution to how to feed those 9 billion people by 2050.

You can hear more of Bob’s comments during the session here: Stallman1.mp3

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The issue of finances and credit markets remains the main topic of discussion during this first day of the World Agricultural Forum going on in St. Louis, Mo.

The most current session features several prominent bankers, including: Shuillin Wang, China Investment Corp.; Joseph Quinlan, Chief Market Strategist for Bank of America; James Bond, CEO, Multilateral Investment Guarantee Agency at The World Bank; Jonathan Campaigne, CEO of PRIDEAFRICA in Kenya; and Esther Muthoni Muiruri, the General Manager Marketing-Agri Business, Equity Bank, Ltd.

Quinlan warned that with the current global financial crisis, there might be a tendency for some banks, especially those in North America and Europe, to keep more of their capital at home.

“As the banks rebuild their balance sheets, there’s going be a home bias.”

As bad as that might sound for some of the developing countries, which rely on foreign investment to move their ag programs forward, they might look more to their own homegrown finances to get the local economies moving. That growth in local economies, in turn, will fuel the overall growth in the world’s economy.

Quinlan says the political instability that plagues many developing countries will make banks in the U.S. wait for local banks, the World Bank and International Monetary Fund (IMF) take the lead at financing those operations in those areas.

He says that a forum such as this one only confirms in his mind the importance of agricultural commodities and the investment opportunities they offer.

Listen to my conversation with Joseph here: Quinlan1.mp3

Flickr Photo Album for World Ag Forum

AgWired coverage of the 2009 World Agricultural Forum World Congress is sponsored by:
.