The European Parliament yesterday (13 January) told EU member states and the European Commission that it wants an additional EUR532m (US$700m) pumped into food industry investment in developing countries.
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In a formal resolution, MEPs said they wanted to increase EU international aid spent on the sector to 10% of the budget from 3%.
In 2006, the EU spent EUR7.6bn on development aid in general.
The text of the resolution noted that action was needed to boost food production worldwide.
From 2007-8, food prices “increased by over 80% on average while cereal stocks [fell] in 2008 to a worrying historic low of 40 days’ supply”, MEPs noted.
