21 days ago • Posted by Martin Boujol
Global food prices surge
Global food prices have reached their highest price point in seven years. The trend initiated by the Covid pandemic has been supported by a lower US production as well as increase in China's food imports. The disruption of the shipping industry is also a supporting factor, with cargo tending to cost more. While we are not yet at the high levels reached in the 2000s, this trend could be a concern in the long term. “It could become a big issue for less prosperous countries which depend on imports for food,” said Abdolreza Abbassian, senior economist at the UN Food and Agriculture Organization.
Source: FAO study, the Financial Times