Chelsea Bruce-Lockhart

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How bad will the global food crisis get?

Has the high price of food passed a peak? Even before the UN-brokered grain deal between Kyiv and Moscow gave the green light last week for shipments to leave Ukraine’s Black Sea ports, food commodity prices had been plummeting. Fears of recession, a bumper harvest in Russia and hopes of revived grain trade flows have pushed prices lower.

But the price declines do not mean the food crisis is over. Analysts say the underlying factors that drove markets higher are unchanged. The ongoing war is only one of a multitude of problems that could sustain higher hunger rates for many years to come.…  Seguir leyendo »