‘Flying with one engine’: why global food supplies are at risk despite falling crop prices

‘Flying with one engine’: why global food supplies are at risk despite falling crop prices

Financial Times, 29 January 2023

Despite a recent decline in fertiliser and crop prices, the world's food supplies are still at risk due to factors such as geopolitical uncertainty, volatile energy markets, and climate change. The most immediate concern is the renewal of the UN-backed grain deal, which could fail and result in the block of Ukrainian grain exports and a rise in prices. Climate change and the potential shift from La Niña to El Niño could also affect crop production. Low grain inventory levels and the strength of the dollar add to the concerns about global food supplies. Despite some improvements, food inflation remains in double digits in most parts of the world and is expected to decline slowly.

Read the full article on the Financial Times website for more information.