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BBC (September 12)

2022/ 09/ 14 by jd in Global News

China “is the world’s last major economy attempting to entirely stamp out Covid outbreaks, claiming this is necessary to prevent wider surges of the virus which could overwhelm hospitals.” At present, “tens of millions of people in at least 30 regions have been ordered to stay at home under partial or full lockdowns,” with some of the impacted residents “complaining of shortages of food and essential items.”

 

Bangkok Post (September 2)

2022/ 09/ 03 by jd in Global News

“Many developing countries are teetering on the edge of a debt crisis, with the Covid-19 pandemic, soaring food and energy costs, and the monetary tightening of major economies all threatening to push them over.” Lebanon, Sri Lanka and some other countries have already teetered. “As of the end of March, 38 of 69 low-income countries were either already in or at high risk of debt distress. Middle-income developing countries’ debt-service burden is at its highest level in 30 years.”

 

Australian Financial Review (July 17)

2022/ 07/ 19 by jd in Global News

“Oil has begun to drop back down this week to pre-invasion levels as traders brace for a sharp drop-off in consumption. But food price inflation remains stubbornly high.” Nevertheless, food prices remain largely off the radar. “The dramatic spikes in oil and mineral prices after Russia’s invasion of Ukraine have distracted investors from the long-lasting and more dangerous impact of food inflation.” This has led BlackRock founder Larry Fink to sound the alarm on food inflation which also has profound geopolitical impacts.

 

Investment Week (June 22)

2022/ 06/ 24 by jd in Global News

“UK inflation has hit another 40 year high of 9.1% in May, up from 9% in April. The slight increase from already record high inflation rate came largely from rising food and non-alcoholic beverage prices,” while gas and diesel prices rose to “the highest on record.” The “top financial priority” for 58% of UK adults is now “day to day costs, like paying bills and for food.”

 

Reuters (June 6)

2022/ 06/ 07 by jd in Global News

“Even though supply disruptions in many parts of the world are severe and policy solutions are challenging, Western governments do have the opportunity to reverse the rising cost of food through the simple scrapping of biofuel mandates. This would remove a very large non-food demand for crops and turn the current grain shortage to a surplus, easing the pressure on inflation.”

 

The Economist (May 21)

2022/ 05/ 23 by jd in Global News

“By invading Ukraine, Vladimir Putin will destroy the lives of people far from the battlefield—and on a scale even he may regret. The war is battering a global food system.” Russia and Ukraine produce roughly 12% of all traded calories. If “the war drags on and supplies from Russia and Ukraine are limited, hundreds of millions more people could fall into poverty. Political unrest will spread, children will be stunted and people will starve.”

 

New York Times (May 11)

2022/ 05/ 13 by jd in Global News

The weak yen, coupled with soaring food and energy costs, “are posing yet another challenge for the world’s third-largest economy as Japan trails other major nations in emerging from the economic blow of the pandemic. The rise in prices has spooked Japanese consumers used to decades of stability, and the weak yen is starting to look as if it will depress demand at home more than stimulate it abroad.”

 

Seeing Alpha (November 10)

2021/ 11/ 11 by jd in Global News

“CPI came in red-hot again, up 0.9% month-over-month and 6.2% year-over-year, showing broad-based increases. The biggest contributors to price gains were energy, rent, food, and used cars and trucks.” As a result, “real average hourly earnings for American workers are down 1.2% year-over-year. Not exactly what we’re hoping to see.”

 

BloombergQuint (October 19)

2021/ 10/ 20 by jd in Global News

Hoarding and food shortages are back, even though “there’s plenty of food. There just isn’t always enough processing and transportation capacity to meet rising demand as the economy revs up. More than a year and a half after the coronavirus pandemic upended daily life, the supply of basic goods at U.S. grocery stores and restaurants is once again falling victim to intermittent shortages and delays.”

 

The Times of India (March 26)

2020/ 03/ 27 by jd in Global News

“On day one of lockdown, supply of fruits and vegetables took a hit, despite the government having marked it out as an ‘essential service.’ Wholesale suppliers…say there are multiple logistics issues.” The largest “is the closure of state entry points and tolls across India. Some 1.2 crore trucks are said to be stranded across India” with some drivers “getting no food or water as dhabas remain closed for miles along highways, even as essentials rot inside the trucks.”

 

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