The stresses of climate change, such as droughts and floods, are causing weaker harvests in many regions.
(Photo: Bloomberg)
Dusseldorf, Zurich, Bangkok Food will remain expensive for a long time and fuel inflation. This is the assumption of leading agricultural economists and nutritional organizations. They expect that food prices will remain at the skyrocketing level or even continue to rise even after the pandemic. Grain or corn are currently between 40 and 50 percent more expensive than at the end of 2019.
“We have long been in a global food crisis, and it will only get worse,” said Matin Qaim, professor at the University of Bonn and one of the leading German agricultural economists, the Handelsblatt. He sees no signs of relief. “Demand will remain high, as will production costs for farmers and transport costs for traders.”
Current price drivers are the lack of fertilizer and logistics problems. Aid organizations warn of supply problems and increasing hunger in Africa and Latin America. Food manufacturers have also announced further price increases for Germany.
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