Narrative Interview for Food and Resources- myassignmenthelp.com

Question: Discuss about theNarrative Interview for Food, Resources and Conflict. Answer: Australia is one of the mixed developed economy that has an ever evolving primary sector, which contributes almost 12% to the countrys GDP, however the growth of the secondary and tertiary sectors has faded out its importance to the economy (Sheng et al. 2017). However, fluctuation in the price of the agricultural product during the Global Financial Crisis session during 2007 to 2008 around the world, it gained much amount of focus. Plunging price of the food crops around the world has attracted minds of the many researchers for detailed analysis of the phenomenon. However, presently, Australian economy has been facing massive boom through the rise in crop production in both part of the nation and along with the increased nut production. Under this situation, this narrative interview is aimed to provide a brief overview of the World Food Crisis that took place during 2007 to 2008 around the world and its impact on the Australian economy (Hendrix and Haggard 2015). For this purpose, t his report is aimed to interview Robert Ruwoldt, who is Australian Year of The Farmer winner of 2011 and he is presently on f the best person in the country who has firsthand data regarding the impact of the agricultural crisis of 2008 (Lawson 2018). According to same source, besides this, with wife Wendy, Daughter-in-law Katie and son Justin, has survived the dwindling market situation of the 2007 to 2008 that makes him the ideal person to be interviewed for this report. During interview Robert Ruwoldt stated that he was the farmer of the year 2011 in Australia who grows pulses, canola and cereals on his land with his other family member who are his wife, son and daughter-in-law that makes the farming a family business for him. He stated that they grow crop not for subsistence farming rather it is the main source of income for his family. Within the 380 hector of land they produces various crash crops and it presently earns them a substantial amount of fund to live (Spivack 2012). However, once the interviewee was asked about the situation of the 2008 World Food Price Crisis was asked, he argued, that was one of the worse situation for the Australian agricultural sector, when the demand fell to the lowest point over the last two decade. It affected the family hardly, because their income fell by 45% compared to the 2006 situation, when the demand was highest and the income for the family was relatively much higher compared to the situation of World F ood crop Price rise (Lawson 2018). Consumers were facing lower economic development in the country as compared to the other developed nations like US, UK and others due to the fact that Australia used to import much amount of food crop from the developing countries at lower cost, which was stopped due to the certain sanctions by the developed nations (Atkins 2016). It reduced the CPI as well as the development index of the country and the rising price of the food crops reduced the consumer surplus that hampered the fall in demand and it in turn reduced the producers welfare too as opined by the interviewee (Reserve Bank of Australia 2018). According to the words of the interviewee there has been huge political as well as the economic impact due to the rise in the World Food Price Index. One of the radical impact of this phenomenon can be seen from the fall in the demand of the Australian food crops in the world as well as in the domestic market. Robert Ruwoldt argued that rise in the price of the corn prices in the Australia has affected the cattle industry of the country badly. With the rise in the corn, there was rise in the feedstock for the country that has hampered the overall economy too (Beghin 2014). According the words of the Robert Ruwoldt food is the new oil and new gold is the soil. Thus absence of the adequate food at equilibrium price, where the demand and supply equate with each other lead to political turmoil in the various countries too. When it comes to the case of the Australia, there has been riots in various areas of the country for the governmental interfere to control the market situation; howeve r, government failed to do so. Considering the response of the interviewee it can be stated that there were various interesting thing has come up. According to the Robert Ruwoldt, the interview, each there is more than 219,000 additional plates every day at dinner table that has been providing much amount pressure on the economy of the land (McCarthy 2012). Rising demand has made the farms unable to withstand against the certain shock in the market. In addition to this, shifting of focus of the states from primary sector towards the secondary and tertiary sector has hampered the economy of the agricultural sector too. From the interview of the Robert Ruwoldt it has been found that though the Australian agricultural sector has been performing really well, however, it has failed to entice the market effectively. According to my belief, rise in the import of the agricultural product from the developing nations, governments of the respective developed countries like Australia imposed import restriction, that plunged the price in the global context. In addition to this, I believe that the restriction on export of the cash crops to the developing nations from the developed nations under the considerable amount of complicated policies make the market volatile where the trust of the investors on the market was reduced by a large extent. This further caused fall in the demand and lead the economy to face higher price level. Considering the perspective of the interview it can be stated that the agricultural sector of the Australia faced a crippling blow due to the rising pricing because it has caused rise in the price and fall in the consumer as well as the producer surplus through the fall in the demand. Thus from the present narrative interview I have learned how interview can be made on the topics which are related to the economics and in addition it has also been learned by me that how to think differently for the different type of interview so as to interact with the different interviewee in interactive way to get much amount of details from the interviewee. Reference: Beghin, J., Bureau, J.C. and Gohin, A., 2014, November. The Impact of an EU-US TTIP Agreement on Biofuel and Feedstock Markets. In International Agricultural Trades Research Consortium, Annual Meeting: Food, Resources and Conflict. Hendrix, C.S. and Haggard, S., 2015. Global food prices, regime type, and urban unrest in the developing world. Journal of Peace Research, 52(2), pp.143-157. Lawson, A. (2018). Victorian innovator sets sight on N efficiency. [online] Grains Research and Development Corporation. Available at: https://grdc.com.au/resources-and-publications/groundcover/ground-cover-issue-122-may-jun-2016/victorian-innovator-sets-sight-on-n-efficiency [Accessed 30 Apr. 2018]. McCarthy, J. (2012). Leaders urged to heed global food crisis warning. [online] ABC News. Available at: https://www.abc.net.au/news/2012-08-15/an-food-security-feature/4199736 [Accessed 30 Apr. 2018]. Reserve Bank of Australia. (2018). Developments in Global Food Prices. [online] Available at: https://www.rba.gov.au/publications/bulletin/2011/mar/3.html [Accessed 30 Apr. 2018]. Sheng, Y., Jackson, T., Zhao, S. and Zhang, D., 2017. Measuring Output, Input and Total Factor Productivity in Australian Agriculture: An Industry?Level Analysis. Review of Income and Wealth, 63(s1). Spivack, J. (2012). 2007-2008 Food Crisis: Causes, Responses, and Lessons Learned. [online] Nourishing the Planet. Available at: https://blogs.worldwatch.org/nourishingtheplanet/2007-2008-food-crisis-causes-responses-and-lessons-learned/ [Accessed 30 Apr. 2018].