Probably no one could have imagined that the developed world would start to run out of basic foodstuffs that we need every day. We are not that far yet, but in some respects we are moving there relatively quickly. It is certainly not the case that there are huge warehouses and stocks of everything somewhere. And many foods have a relatively limited field of producers, although we are not very aware of it.
It’s getting bad
The whole thing can then start to fall apart. After all, we already saw the first seeds last year, when suddenly there was not enough wheat on the market and its price shot up to unprecedented heights. This is how the lack of food manifests itself in the end. The fact that it is no longer available in stores at all is either due to an unexpected outage, which will be quickly resolved, or a really fundamental problem. Mostly, however, the price gradually rises, which sets a higher and higher barrier to purchase, which fewer and fewer customers will cross.
This naturally regulates the demand, which of course is not a problem with, for example, beef tenderloin or caviar, which we can easily deny ourselves, but when this happens with a basic food, it is very bad, because you simply cannot replace it.
At the same time, it is not only wheat, with which there have been constant problems since then, and whose supplies are uncertain in the future. This is starting to affect other foods as well, such as cocoa, whose producers are suffering from a large crop failure, which is manifested, among other things, by the increase in the price of chocolate.
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People buy what they can
And now we have another major food shortage caused by Turkey. This banned the export of olive oil, for a simple reason. There is little of it on the local market due to large crop failures and fires, so the local government wants it to remain on the domestic market, because otherwise its prices there would rise dramatically. At the same time, the export was initially limited until October 31, but now it has been extended, until further notice, as the server informs The World of Fields.
This ban on the export of one of the main producers of olive oil, which, among other things, significantly supplies European markets, comes at a time when the price of this food is already at historic highs. One ton of olives costs a full 10 thousand dollars, which is well over two hundred thousand crowns.
Also read: It’s about to start. Important food is running out, people are trying to stock up. It will not be easy
At the same time, it is a similar situation that is being solved on the rice market. For a change, its export was banned by India, which is responsible for 40% of the global export of this food. Rice prices immediately began to rise. People tend to stock up as long as they can afford it, fearing that food will become so expensive that they won’t be able to afford it. As he also points out The World Bankuncertainty with global food prices is rising again.
Foto: Shutterstock
2023-10-22 16:00:00
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