In a report released on Wednesday, 5 September 2012, Oxfam warned that the world's vulnerability to further drought in the United States could worsen in the future‚ warning of a possible 140% increase in the price of maize by "over and above the average price of food in 2030‚ which is already likely to be double today's prices."
Weather conditions in Asia‚ a nationwide drought in India and flooding in South East Asia is expected to drive the world market price of rice up by 22%.
Drought and flooding is also expected to bring up the consumer price of maize "by as much as 120%" in southern Africa the report said.
This could mean the price of a 25kg bag of corn meal could go up from R152 to R335.
Climate change policy advisor at Oxfam Tim Gore said in the report that while all countries will feel the impact of the price hikes "the poorest people will be hit hardest".
"The huge potential impact of extreme weather events on future food prices is missing from today's climate change debate. The world needs to wake up to the drastic consequences facing our food system of climate inaction‚" Gore said.
Gore said governments needed to cut down greenhouse gas emissions‚ increase investment in small scale agriculture in poorer countries and provide financial support for poor farmers who faced the weather challenge.
"Our planet is heading for average global warming of 2.5-5°C this century. It is time to face up to what this means for hunger and malnutrition for millions of people on our planet‚" Gore said.
The Food and Agriculture Organisation is also expected to release a report this week on the US drought's impact on global food prices.
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