The chart below (taken from the Financial Times of 6 January), taking data from the United Nations Food and Agriculture Organisation, is all too clear.
Yet, this time, there’s less cause for alarm. Some of the highest increases have affected corn, fruit, meat, sugar and vegetable oil. The two biggest staples of rice and wheat, on which much of the world depends, have had relatively good harvests.
Volatility, however, in weather and in price inflation remains a high risk for us all.
Richard Hall is chairman of Zenith International. You can also read his blog at BevBlog.
© FoodBev Media Ltd 2024