Global Food Prices Are at a 6-Year High. These 3 Nations Are Getting People Worried
The world is racing to vaccinate its way out of the coronavirus pandemic, but another challenge has already emerged for some more vulnerable governments and economies.
Global food prices are at the highest in more than six years, driven by a jump in the cost of everything from soybeans to palm oil because of demand from China, vulnerable supply chains and adverse weather.
Some banks warn the world is heading into a commodities “supercycle.” Inflation is putting another squeeze on consumers hurting from pandemic-induced recession and—in some places—falling currencies.
Since the start of the year, protests have raged in Sudan, while anxieties over securing food contributed to strife in Lebanon and Tunisia, ground zero for the Arab Spring uprisings a decade ago. In India, farmers revolted against efforts to bring prices down. Russia and Argentina have restricted crop shipments to suppress prices at home. Even rich countries like the United Arab Emirates are considering possible price caps on some foods.
Yet it’s in the largest middle-income countries where the effects may resonate most for the world. They are some of the most populous places on the planet and where food costs make up a larger share of consumer price baskets. They are also where governments are under more pressure to act.
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Видео Global Food Prices Are at a 6-Year High. These 3 Nations Are Getting People Worried канала Bloomberg Quicktake: Now
Global food prices are at the highest in more than six years, driven by a jump in the cost of everything from soybeans to palm oil because of demand from China, vulnerable supply chains and adverse weather.
Some banks warn the world is heading into a commodities “supercycle.” Inflation is putting another squeeze on consumers hurting from pandemic-induced recession and—in some places—falling currencies.
Since the start of the year, protests have raged in Sudan, while anxieties over securing food contributed to strife in Lebanon and Tunisia, ground zero for the Arab Spring uprisings a decade ago. In India, farmers revolted against efforts to bring prices down. Russia and Argentina have restricted crop shipments to suppress prices at home. Even rich countries like the United Arab Emirates are considering possible price caps on some foods.
Yet it’s in the largest middle-income countries where the effects may resonate most for the world. They are some of the most populous places on the planet and where food costs make up a larger share of consumer price baskets. They are also where governments are under more pressure to act.
Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30
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Видео Global Food Prices Are at a 6-Year High. These 3 Nations Are Getting People Worried канала Bloomberg Quicktake: Now
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28 февраля 2021 г. 19:53:32
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