Global Food Prices Are at a 6-Year High. These 3 Nations Are Getting People Worried

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  • Bloomberg Quicktake: Now published this video item, entitled “Global Food Prices Are at a 6-Year High. These 3 Nations Are Getting People Worried” – below is their description.

    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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    In This Story: Argentina

    Argentina, officially the Argentine Republic, is a country located mostly in the southern half of South America. Sharing the bulk of the Southern Cone with Chile to the west, the country is also bordered by Bolivia and Paraguay to the north, Brazil to the northeast, Uruguay and the South Atlantic Ocean to the east, and the Drake Passage to the south.

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