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Thursday June 30 2022

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    trade deals

    WTO strikes global trade deals after ‘roller coaster’ talks

    inflation

    Food inflation is swallowing Latin America’s dietary staples

    Protestors outside UK Parliament with a placard reading, "Keep the protocol, keep the peace."

    New EU legal action over post-Brexit deal changes

    Buyers at Risk Countries in Africa and Asia are among the most reliant on Ukraine grain

    US quietly urges Russia fertiliser deals

    George Eustice and Boris Johnson

    England’s strategy fails to address food poverty

    A Russian missile in a winter wheat field in Soledar, in Ukraine’s eastern Donetsk

    Food vs fuel: Ukraine war sharpens crop use debate

    Henry Dimbleby

    “Sustainable” UK food labels will be mandatory, says leaked strategy

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    New EU legal action over post-Brexit deal changes

    Buyers at Risk Countries in Africa and Asia are among the most reliant on Ukraine grain

    US quietly urges Russia fertiliser deals

    George Eustice and Boris Johnson

    England’s strategy fails to address food poverty

    A Russian missile in a winter wheat field in Soledar, in Ukraine’s eastern Donetsk

    Food vs fuel: Ukraine war sharpens crop use debate

    Henry Dimbleby

    “Sustainable” UK food labels will be mandatory, says leaked strategy

    "At SCOOP we don’t demand exclusivity and actively encourage farmers to find new and better markets for themselves." Pic: Cotswolds farmer by David George

    Paying farmers 75p for each £1 consumers spend on their produce

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    Bank of America: Food shocks will destabilise ESG

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    New EU legal action over post-Brexit deal changes

    Buyers at Risk Countries in Africa and Asia are among the most reliant on Ukraine grain

    US quietly urges Russia fertiliser deals

    George Eustice and Boris Johnson

    England’s strategy fails to address food poverty

    A Russian missile in a winter wheat field in Soledar, in Ukraine’s eastern Donetsk

    Food vs fuel: Ukraine war sharpens crop use debate

    Henry Dimbleby

    “Sustainable” UK food labels will be mandatory, says leaked strategy

    Chair of the EU Trade Committee committee, Bernd Lange

    Suppliers into the EU will shoulder burden of proof re: seized slave-made products

    In 2017 an all-male panel discussed maternity services at the White House

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Home Topics Security

Priciest food since 70s challenges governments

From handouts to trade rules, politicians are looking for ways to neuter the effect of surging costs

by Jack Groves
September 16, 2021
in In the news, Policy, Rights
Reading Time: 1 min read
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Priciest food since 70s challenges governments

A demonstrator holds government subsidized bread during a protest in Beirut, Lebanon, on March 2. Photographer: Hasan Shaaban/Bloomberg

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Bloomberg reports that governments across the world know that rising food costs can come with a political price. The dilemma is whether they can do enough to prevent having to pay it.

Global food prices were up 33 per cent in August from a year earlier with vegetable oil, grains and meat on the rise, data from the United Nations Food and Agriculture Organization show.

And it’s not likely to get better as extreme weather, soaring freight and fertilizer costs, shipping bottlenecks and labor shortages compound the problem. Dwindling foreign currency reserves are also hampering the ability of some nations to import food.

From Europe to Turkey and India, politicians are now handing out more aid, ordering sellers to cut prices and tinkering with trade rules to mitigate the impact on consumers.

The issue is more acute in emerging markets where the cost of food accounts for a greater chunk of household spending, and in crisis-hit nations. In Lebanon, militant group Hezbollah has tightened its grip on the country by distributing food. But even the U.S. is taking action to address affordability made more urgent during the coronavirus pandemic.

“Governments can intervene and commit to supporting lower consumer prices for a while,” said Cullen Hendrix, non-resident senior fellow at the Peterson Institute for International Economics, a Washington-based think tank. “But they can’t do it indefinitely.”

More here…

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Jack Groves

Jack Groves

Jack Groves is a founding contributor to Quota. He views food systems as fundamental to business success and human progress. He is endlessly curious about the people in food systems, their skills and culture. Contact JackGroves@quota.media with news and views.

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