Post-Script To 2020 Nobel Peace Prize For Hunger Relief > Rising Food Price Inflation Globally

On the same day the World Food Programme was awarded the Nobel Peace Prize for its fight against hunger, fresh numbers from the U.S. government showed that tighter crop supplies could worsen the food-inequality crisis that’s sweeping the globe. . . the report indicated that global food prices could keep climbing, making adequate nutrition more expensive as millions are thrown out of work and economic woes deepen. . . The crop outlooks and higher prices come as the World Food Programme warned of “hunger crisis of inconceivable proportions,” unless it and other groups with a similar focus get the financial backing they need to do their work.

Just this week, the United Nations released its gauge of global food prices, which showed costs rose 2.1% in September, mainly driven by grains and vegetable oils. The index is approaching a multi-year peak set in January. The USDA figures show that the increases could continue as China imports more soybeans and wheat, tightening the global balance sheet.

Prices are rising as the world is forecast for a sharp rise in food insecurity because of Covid-19’s impact. As many as 132 million more people globally may fall into the grip of hunger this year, including in many places that used to have relative stability.

 Here's the source report from Bloomberg

economics https://www.bloomberg.com/news/articles/2020-10-09/u-s-crop-report-signals-worsening-global-food-insecurity-crisis?srnd=premium

U.S. Crop Report Signals Worsening Global Food-Insecurity Crisis

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U.S. Crop Report Signals Worsening Global Food-Insecurity Crisis

By Michael Hirtzer and Megan Durisin    

 

‎October‎ ‎9‎, ‎2020‎ ‎12‎:‎45‎ ‎PM

• USDA cuts outlook for soy reserves, flags dry weather concern
• Tighter crop supplies could mean more global food inflation