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Food security is the state achieved when sufficient food of adequate quality is consistently available to meet consumer demand at an affordable price.
The EBRD believes that a strong and productive private sector is vital for increasing both market supply and the efficiency of global food production and distribution. Our Private Sector for Food Security Initiative seeks to overcome constraints to supply and efficiency through investments, policy dialogue and coordinating action with our partners.
Satisfying consumer demand for food in terms of quantity and quality may not appear to be a problem for those living in more prosperous societies. But the world as a whole is living through an era of acute and growing food security challenges.
No one is likely to be immune from the consequences, direct or indirect, of our success or failure to boost markets, logistics infrastructure and the technology to provide more people with more of the food they need, want or expect.
Population growth, higher incomes and the rise of biofuels will all contribute to a likely increase in food demand by some 50 percent by 2050. Diet quality is also changing, with increasing levels of protein consumption to be satisfied in the near future.
Food supply is under pressure. Climate change, water scarcity and the cost of energy enhance the uncertainty about the future. The move to the cities and lack of investment are also hampering any growth in supply. As a likely foretaste of what is to come, food markets have in recent years experienced not one but three periods of steep price rises and volatility.
World food markets are ever more dependent on the countries of the Black Sea region and beyond such as Ukraine, Russia and Kazakhstan because of their comparative and competitive advantages and strong export position in some agricultural commodities, especially grains.
We believe that the Black Sea region has enormous potential to contribute to global food security and to benefit net food importers in the southern and eastern Mediterranean if it expands production and increases exports.
Investments, public-private policy dialogue and coordination are needed to fulfill this potential. The private sector can play a decisive role in helping bridge the growing divide between demand and supply - and thereby guarantee global food security.
Last updated 25 June 2013
To do business with the EBRD in the field of Food Security, contact: email@example.com
The EBRD and the UN Food and Agriculture Organisation are working together to increase private sector involvement in food security.