ethanol blending mandate, results in both welfare and efficiency losses.4 In addition, the Round- table for Sustainable Biofuels was launched as a mechanism for certifying biofuel producers who adhere to standards of low environmental impact and fair labor practices. Tis certification could facilitate their compliance with European Union regulations and provide a “green label” that could earn them a price premium as the market fur- ther develops. Te environmental impacts of biofuel produc- tion were an important topic of investigation in the
European Union during 2011. A central question concerns biofuel production and indirect land use change—that is, whether the growing use of land for biofuel crops ultimately leads to conversion of natural land to cropland, diminishing the extent to which biofuel production cuts carbon emissions. As of December 2011, the European Commission had not released its report on biofuel impacts, but once the research provides more conclusive impact findings and policy options, the region should be able to move forward with adjusting its Renewable Energy Directive.
WORLD ECONOMIC FORUM ON AGRICULTURE A “New Vision for Agriculture” is presented at the World Economic Forum in Switzerland, promoting market-based solutions to accelerate sustainable agricultural growth.
January 28
CHINA NO.1 DOCUMENT China’s No. 1 Document focuses for the eighth consecutive year on water conservation and water infrastructure, due to the previous year’s droughts and floods.
January 29
IFPRI NUTRITION/HEALTH CONFERENCE More than 1,000 people attend the IFPRI-organized conference, “Leveraging Agriculture for Improving Nutrition and Health,” in New Delhi, India.
February 10–12 JAN FEB MAR APR
AFRICA/INDIA FORUM SUMMIT At the second Africa–India Forum Summit in Addis Abba, Ethiopia, “Enhancing Partnership, Shared Vision,” leaders release a framework to reinforce coopera- tion between African countries and India.
May 24–25 MAY JUN previous highest peak, 224 in 2008
FOOD PRICE INDEX PEAKS FEBRUARY 2011
238 highest peak in FPI history
The Food Price Index measures weighted average international prices of basic food commodities. The prices from 2002–2004 were set to 100 to serve as baseline for the index.
For most of 2011 food prices were above the 2008 peak. Only in the last three months did prices fall below the previous peak of 224.
G20 AGRICULTURE MINISTERS MEET The first-ever meeting of the G20 agriculture ministers, in Paris, yields a proposal to tackle food price volatility and strengthen food security.
June 22–23
JAN 2011
DEC 2011
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