World food prices are more than 30% higher in 2021 than last year.

3개월 전

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Ongoing shipping and supply issues related to a lack of shipping containers, as well as staff shortages, means that a lot of food simply isn't getting where it needs to be. Problems with harvesting due to the pandemic also have meant that there are fewer reserves and buffers to ensure stable supply.

This is making the household budgeting for nutrition very challenging in many parts of the world, and this also reflects upon geopolitical stability – historically when food prices suddenly rise, in a manner without commensurate salary increases, a lot of unrest follows.

In a world of multi-polar sabre-rattling between various blocs, such matters can come to a boil quickly, in turn creating further migration crises.

Even logistical champions such as McDonalds aren't able to supply milkshakes and bottled drinks in the UK, whilst Nando's in South Africa has run out of chicken at 50 locations. These are the advance guard of a greater number of far worse complications waiting in the wings.

Meanwhile, the global chip shortage, due to consolidation of the market and the latest intellectual property, is creating knock-on effects in other sectors; over 7 million fewer automobiles will be produced this year in the U.S. alone.

There is an urgent needs for a return to traditional economic wisdom, away from razor thin margins and their inherent systemic risks. In an accelerating and ever-closer world, we can expect a greater proportion of whacky black swans to blindside us.

We must adapt to build greater resiliency (slack) into our societal institutions and infrastructure.

Sources : https://www.bloomberg.com/news/features/2021-08-18/soaring-cost-of-food-is-forcing-families-to-scrimp-at-the-dinner-table

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