Food prices are rising as countries limit exports. Blame climate change, El Nino and Russia's war
1 year, 3 months ago

Food prices are rising as countries limit exports. Blame climate change, El Nino and Russia's war

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. At Nairobi's major food market, Wakulima, the prices for onions from Tanzania were the highest in seven years, seller Timothy Kinyua said. Tanzania's onion limits this year are part of the “contagion” of food restrictions from countries spooked by supply shortages and increased demand for their produce, said Joseph Glauber, senior research fellow at the International Food Policy Research Institute. But that cushion has shrunk in the past two years, and climate change means food supplies could very quickly run short of demand and spike prices, said Glauber, former chief economist at the U.S. Department of Agriculture. The climate risks aren't limited to rice but apply to anything that needs stable rainfall to thrive, including livestock, said Elyssa Kaur Ludher, a food security researcher at the ISEAS-Yusof Ishak Institute in Singapore.

Food India Climate Change War Ukraine Russia Climate Oil Rice Prices Exports Kenya Nairobi Tanzania Restrictions Onions Food Prices El Nino Ludher  prices  el  rice  rising  drought  countries  food  climate  exports  onions  supplies  war  oil  limit  nino  restrictions  russias  production

History of this topic

Ambitious climate policies cannot prevent 3-fold consumer price rise in poor nations by 2050
5 days, 11 hours ago

Ambitious climate policies cannot prevent 3-fold consumer price rise in poor nations by 2050

Hindustan Times  

Even under ambitious climate policies, lower-income countries would see consumer food prices rise 2.45 times by 2050 while producer prices would rise 3.3 times, a study has found. Consumer food prices in richer countries would be 1.25 times higher with climate policies, even if producer prices are 2.73 times higher by 2050, the researchers found. In contrast, lower-income countries would …

Food prices are on the rise again. What’s behind the increase
3 weeks, 4 days ago

Food prices are on the rise again. What’s behind the increase

CNN  

Rochester, Minnesota CNN — On the Sunday before Thanksgiving, a grocery store here was plumb out of eggs. And it’s not just eggs — shoppers have seen jumps in beef, coffee and non-alcoholic beverages, driving up overall grocery prices to their largest monthly gain since January 2023. “Overall grocery price inflation is relatively tame; it’s essentially in line with where …

Food prices are on the rise again. What’s behind the increase
3 weeks, 4 days ago

Food prices are on the rise again. What’s behind the increase

CNN  

Rochester, Minnesota CNN — On the Sunday before Thanksgiving, a grocery store here was plumb out of eggs. And it’s not just eggs — shoppers have seen jumps in beef, coffee and non-alcoholic beverages, driving up overall grocery prices to their largest monthly gain since January 2023. “Overall grocery price inflation is relatively tame; it’s essentially in line with where …

Food prices reach 19-month high in November, UN says
1 month ago

Food prices reach 19-month high in November, UN says

Live Mint  

Food prices climbed to a 19-month high in November driven by vegetable oils, data from the Food and Agriculture Organization of the United Nations showed on Friday. The FAO’s food price index, which tracks global prices for a basket of staple foods, averaged 127.5 points in November, a 0.5% increase from October’s level and 5.7% higher than a year earlier. …

​Surprise spike: On the Consumer Price Index
1 month, 3 weeks ago

​Surprise spike: On the Consumer Price Index

The Hindu  

India’s consumer prices have gained fresh momentum over September and October, rendering the tangible softening in inflation to a pace below the official median target of 4% in the two months preceding them, a fleeting reprieve. A sharp surge in vegetable prices, particularly tomato, from the onset of the festival-packed month of October, and an uptick in edible oil prices …

Spectre of food inflation haunts the economy again
1 month, 3 weeks ago

Spectre of food inflation haunts the economy again

New Indian Express  

It appears that the common man will have to further tighten his consumption belt. Government data released Tuesday showed vegetable prices were the main culprit, as they shot up over 42 per cent in October from a year ago—higher than the 36 per cent rise in September. Coupled with oil prices rising 9.51 per cent, fruits, cereals and pulses, food …

India’s retail inflation surges to 6.2% in October
1 month, 4 weeks ago

India’s retail inflation surges to 6.2% in October

The Hindu  

A 10.9% spike in food prices lifted India’s retail inflation to a 14-month high of 6.2% in October, from 5.5% in September, with prices of vegetables and edible oils escalating at a sharp pace not seen in recent years. October’s price rise pace marked a breach of the Reserve Bank of India’s upper tolerance limit for inflation, with rural India …

​Last mile woes: On inflation data and the challenges
3 months, 3 weeks ago

​Last mile woes: On inflation data and the challenges

The Hindu  

The latest retail inflation data from the National Statistical Office yet again highlights the challenge in achieving durable price stability. Provisional estimates for year-on-year price gains in August show the headline rate based on the Consumer Price Index quickened marginally to 3.65%, from July’s 3.60%, as a sharp rebound in vegetable inflation led to a wider acceleration in overall food …

Slide in tomato prices aid an 8% dip in vegetarian meal costs, CRISIL says
4 months ago

Slide in tomato prices aid an 8% dip in vegetarian meal costs, CRISIL says

The Hindu  

A sharp 51% drop in tomato prices aided in an 8% decline in average vegetarian meal costs through August but onion and potato prices surged more than 50% and the actual price paid by consumers for a vegetarian plate of food remained the second highest over the past year at ₹31.2, just 4% below July levels, as per Crisil’s monthly …

World food prices ease slightly in July, UN says
5 months, 1 week ago

World food prices ease slightly in July, UN says

Hindustan Times  

The United Nations world food price index eased slightly in July according to data released on Friday, with a decline in the index for cereals offset in part by increases for meat, vegetable oils and sugar. The FAO Cereals Price Index declined 3.8% to its lowest level in nearly four years with global export prices for all major cereals falling …

Economic Survey 2023-24: Extreme weather and crop damage led to hike in food prices; suggests removing food from price index
5 months, 2 weeks ago

Economic Survey 2023-24: Extreme weather and crop damage led to hike in food prices; suggests removing food from price index

The Hindu  

Extreme weather, lower reservoir levels and crop damage have affected farm output and led to higher food prices over the past two years, the Economic Survey 2023-24 said on July 22. Removal of food from Inflation-targeting framework The Reserve Bank should stop looking at food inflation in deciding interest rates and the Government should explore giving coupons or direct cash …

Why onion, tomato prices rose in 2 years. Economic Survey's ‘climate’ reason
5 months, 2 weeks ago

Why onion, tomato prices rose in 2 years. Economic Survey's ‘climate’ reason

Hindustan Times  

The Economic Survey said that extreme weather, lower reservoir levels and crop damage affected farm output and led to higher food prices in the past two years. The report noted, “In FY23 and FY24, the agriculture sector was affected by extreme weather events, lower reservoir levels, and damaged crops that adversely affected farm output and food prices. So, food inflation …

Wholesale price inflation rises to 3.36% in June, highest in 16 months
5 months, 3 weeks ago

Wholesale price inflation rises to 3.36% in June, highest in 16 months

The Hindu  

Inflation in India’s wholesale prices accelerated to 3.4% in June, the highest in 16 months, from 2.6% in May, led by a spike in food inflation to 8.7% and a near-doubling in the rise of manufactured products prices to 1.43%. Pricier vegetables, cereals, and fruits spurred the rise in food prices paid by Indian consumers to a six-month high of …

Food prices are no longer rising as much — but here's why it might not feel that way
5 months, 4 weeks ago

Food prices are no longer rising as much — but here's why it might not feel that way

NPR  

Food prices are no longer rising as much — but here's why it might not feel that way toggle caption Justin Sullivan/Getty Images North America Grocery prices are no longer climbing as much as they did in the last two years — but many Americans are still frustrated by what it costs to put food on the table. Here are …

World food prices hold firm in June, UN's FAO reports
6 months ago

World food prices hold firm in June, UN's FAO reports

Hindustan Times  

The United Nations world food price index held steady in June data showed on Friday, with increases in vegetable oil, sugar and dairy products offset by a fall in the price of cereals. The FAO index hit a three-year low in February as food prices receded from a record peak set in March 2022 following Russia's invasion of Ukraine. Cereal …

‘Monsoon pause delays sowing, spikes food prices’
6 months, 2 weeks ago

‘Monsoon pause delays sowing, spikes food prices’

The Hindu  

The stalled monsoon has delayed Kharif crop sowing and the persistent heat wave in parts of India is fuelling food price hikes, particularly in vegetables, whose average retail prices rose by about 45.1% this month, economic researchers noted on Monday. Following a rapid onset to cover half the country in the first half of June, there was no further advance …

The everyday supermarket foods Aussies have stopped eating due to 'absurd' price hikes: 'Repulsive'
8 months ago

The everyday supermarket foods Aussies have stopped eating due to 'absurd' price hikes: 'Repulsive'

Daily Mail  

Aussies have listed the supermarket buys they can no longer afford Fed-up shoppers are naming the food and grocery items they've had to give up amid increasing price hikes across the country. Listing the every day items in a budget-themed Reddit thread, Aussies agreed ice cream, steak and fresh berries were among the first to be cut from their supermarket …

World food price index up for second month in April, says U.N. agency
8 months ago

World food price index up for second month in April, says U.N. agency

The Hindu  

The United Nations food agency's world price index rose for a second consecutive month in April as higher meat prices and slight gains for vegetable oils and cereals outweighed decreases for sugar and dairy products. The Food and Agriculture Organization's price index, which tracks the most globally traded food commodities, averaged 119.1 points in April, up from a revised 118.8 …

Wholesale price inflation rises to three-month high of 0.53% in March
8 months, 3 weeks ago

Wholesale price inflation rises to three-month high of 0.53% in March

The Hindu  

India’s wholesale price inflation rose to a three-month high of 0.53% in March from 0.2% in February, with the food index rising 4.65%, primarily led by cereals prices surging at a 12-month high pace even as the inflation in paddy, potato and onions accelerated. For the full year 2023-24, wholesale prices remained in deflationary mode, averaging -0.7%, the lowest pace …

Food inflation expected to rise due to climate change
9 months, 1 week ago

Food inflation expected to rise due to climate change

China Daily  

By JONATHAN POWELL in London | China Daily Global | Updated: 2024-03-28 09:08 A firefighter battles a wildfire in Mexico this week that is an example of the impact of climate change. Researchers at the Potsdam Institute for Climate Impact Research, or PIK, analyzed historical food prices across various food categories and countries globally, looking at the impact of climatic …

Drought, food inflation drive grocery bill northwards; households start rationing
10 months, 3 weeks ago

Drought, food inflation drive grocery bill northwards; households start rationing

The Hindu  

Shruthi H., a homemaker from South Bengaluru, said her monthly grocery bill had ballooned by at least 20-25% over the last three months and this has affected the monthly budget. One of the main drivers of the rally in food prices is rice, which most households cannot avoid,” said Rajashekhar, who runs a supermarket in Sahakar Nagar, North Bengaluru. Cereals …

Food prices fall for first time since 2021 as inflation remains unchanged
10 months, 3 weeks ago

Food prices fall for first time since 2021 as inflation remains unchanged

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation unexpectedly held steady last …

What are the regulations with respect to rice prices? | Explained
11 months ago

What are the regulations with respect to rice prices? | Explained

The Hindu  

February 09, 2024 08:30 am | Updated 11:45 am IST The story so far: The Indian government recently made it mandatory for all traders, wholesalers, retailers, and millers to declare their respective rice stocks. In the year 2022-2023, India produced 135 million tonnes of rice, which is 62.84 lakh tonnes higher than the previous year. While Basmati rice prices are …

Onions, tomatoes, pulses bump up veggie plate prices by 12% in December
1 year ago

Onions, tomatoes, pulses bump up veggie plate prices by 12% in December

The Hindu  

In an indication that food inflation pressures may have worsened in December, the cost of putting together a vegetarian food plate shot up 12% year-on-year last month, compared with 9% in November YoY, as per a monthly food plate costs’ tracker compiled by Crisil Market Intelligence and Analytics. The primary source of food inflation in December were onions and tomatoes, …

Indian rice exporters expect to face challenges due to policy risks, high prices in 2024
1 year ago

Indian rice exporters expect to face challenges due to policy risks, high prices in 2024

The Hindu  

Indian rice exporters anticipate 2024 to be a challenging year marked by policy uncertainties and elevated local prices, hindering the normalisation of rice exports from the country. According to S&P Global Commodity Insights, the Indian Government's policy intervention in 2023, including banning non-Basmati white rice exports, imposing a 20 per cent duty on parboiled rice exports, and setting a minimum …

Global food prices declined from record highs in 2022, the UN says. Except for these two staples
1 year ago

Global food prices declined from record highs in 2022, the UN says. Except for these two staples

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Global food prices declined from record highs in 2022, the UN says. Except for these two staples
1 year ago

Global food prices declined from record highs in 2022, the UN says. Except for these two staples

Associated Press  

ROME — Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, was …

Dry weather, export curbs to hit 2024 global supply of staples
1 year ago

Dry weather, export curbs to hit 2024 global supply of staples

The Hindu  

High food prices in recent years have prompted farmers worldwide to plant more cereals and oilseeds, but consumers are set to face tighter supplies well into 2024, amid adverse El Nino weather, export restrictions and higher biofuel mandates. “We have El Nino weather forecast until at least April-May, Brazil is almost certainly going to produce less corn, and China is …

2023: A year of food-price and climate shocks
1 year ago

2023: A year of food-price and climate shocks

Hindustan Times  

Food price shocks turned India protectionist this year, as the country went from being the largest exporter of rice and a big overseas seller of sugar and fresh vegetables to banning or restricting overseas shipments and trade of most commodities. The country prohibited overseas shipments of wheat in March 2022, white rice in July this year and onions this month, …

Acceleration foretold: On volatile food prices
1 year ago

Acceleration foretold: On volatile food prices

The Hindu  

November’s resurgence in headline retail inflation, while clearly not unexpected after the RBI just last week predicted a likely ‘uptick’, is a stark reminder of the risks volatile food prices pose. While the National Statistical Office’s provisional reading of headline inflation shows the Consumer Price Index rose by 5.55% year-on-year to a three-month high, from October’s 4.87%, food price gains …

Ban on onion exports, curbs on wheat stocks as govt. battles rising food prices
1 year, 1 month ago

Ban on onion exports, curbs on wheat stocks as govt. battles rising food prices

Live Mint  

The government has banned exports of onion and imposed additional limits on stocking of wheat as it seeks to augment availability of these key staples and check rising food prices ahead of the general election next year. “The prevailing supply crunch in the market owing to the early depletion of stocks from the 2022-23 rabi season and estimated lower output …

Rice output expected to drop this year, govt may extend curbs on exports
1 year, 2 months ago

Rice output expected to drop this year, govt may extend curbs on exports

Firstpost  

The weaker output along with persistently high domestic rice prices ahead of five state elections this month and a general election next year have left farmers and traders worried that the government will prolong restrictions on exporting the grain. India’s rice production is expected to drop in 2023, raising the prospect that the central government will extend curbs on exports …

Lower prices for tomatoes, chillis and LPG may have pulled food inflation down last month
1 year, 3 months ago

Lower prices for tomatoes, chillis and LPG may have pulled food inflation down last month

The Hindu  

Retail food inflation may have eased in September, thanks to cooling tomato prices and a reduction in LPG cylinder prices, even as onion prices rose further during the month, a CRISIL study on food plate costs suggested. The cost of a vegetarian thali in September fell 1% year-on-year and 17% from August levels, while tomato prices declined around 62% from …

Food prices are rising as countries limit exports. Blame climate change, El Nino and Russia’s war
1 year, 3 months ago

Food prices are rising as countries limit exports. Blame climate change, El Nino and Russia’s war

Associated Press  

How do you cook a meal when a staple ingredient is unaffordable? At Nairobi’s major food market, Wakulima, the prices for onions from Tanzania were the highest in seven years, seller Timothy Kinyua said. Tanzania’s onion limits this year are part of the “contagion” of food restrictions from countries spooked by supply shortages and increased demand for their produce, said …

Supply of wheat, rice, sugar and edible oils adequate; not to see upswing in prices in festival season, says Food Secretary
1 year, 3 months ago

Supply of wheat, rice, sugar and edible oils adequate; not to see upswing in prices in festival season, says Food Secretary

The Hindu  

Retail prices of key essential food items, especially wheat, rice, sugar, and edible oil prices, are unlikely to see any sharp upswing in the upcoming festival season as the country has adequate supply and the government is keeping a close vigil on hoarders, Food Secretary Sanjeev Chopra said on September 14. "So my analysis is that in the next upcoming …

Global rice prices surge 15-year high after India bans overseas rice exports: Report
1 year, 4 months ago

Global rice prices surge 15-year high after India bans overseas rice exports: Report

Hindustan Times  

Global rice prices reached a 15-year high in August after top exporter India banned some overseas sales of the grain, the Food and Agriculture Organization said on Friday. Representational image While global food prices eased in August, those of rice rose 9.8 percent compared to the previous month, "reflecting trade disruptions in the aftermath of a ban on Indica white …

Rice prices in Asia hit 15-yr high after India's 6-week campaign of curbs
1 year, 4 months ago

Rice prices in Asia hit 15-yr high after India's 6-week campaign of curbs

Business Standard  

By Ben Sharples and Anuradha Raghu In about six weeks, India has rattled the rice market. Rice prices in Asia jumped back near the highest level in almost 15 years on Wednesday after India slapped more curbs on parboiled and basmati over the previous weekend. “Spikes in rice prices always hurt poor consumers the most,” said Peter Timmer, Professor Emeritus …

Oilseeds and Pulses Vulnerable to Price Spikes: Report
1 year, 4 months ago

Oilseeds and Pulses Vulnerable to Price Spikes: Report

Deccan Chronicle  

Chennai: The threat of food price inflation has not waned yet as oil seeds and pulses are still vulnerable to erratic monsoon progression. Apart from a 37.3 per cent surge in vegetable prices, other sub-components like cereals, milk, pulses and spices also showed a significant rise. Given their relatively high reliance on imports, any decrease in domestic production could potentially …

Driven to tears: The Hindu Editorial on the government’s move to arrest prices
1 year, 4 months ago

Driven to tears: The Hindu Editorial on the government’s move to arrest prices

The Hindu  

With consumer food prices rising 11.5% in July, likely the third highest since the current retail inflation data series began in 2014, the government last Saturday made yet another gambit to arrest prices. These worries likely triggered the recent uptick in onion prices from around ₹23 a kilo two months ago to over ₹31 by this Monday. Relative to tomatoes, …

A rice shortage is sending prices soaring across the world. And things could get worse
1 year, 4 months ago

A rice shortage is sending prices soaring across the world. And things could get worse

Associated Press  

Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. Wholesalers are yet to receive new stocks since India, the world’s largest exporter of rice by far, said last month that it would ban some rice shipments. It’s an effort by the world’s most populous nation to control domestic prices ahead …

How India’s ban on some rice exports is ricocheting around the world
1 year, 4 months ago

How India’s ban on some rice exports is ricocheting around the world

Al Jazeera  

India’s decision to ban exports of some rice was based on domestic reasons, but it’s had a global impact. “Earlier rice was trading for $550 per metric tonne, now prices are hovering above $650,” Nitin Gupta, senior vice president of Olam Agri India Private Limited, one of India’s biggest rice exporters, told Al Jazeera. Here’s an explainer on India’s role …

High food prices may be the new normal
1 year, 4 months ago

High food prices may be the new normal

Hindustan Times  

A vegetable price shock has sent India’s benchmark inflation rate to a 15-month high of 7.4% in July. The jump in headline inflation came despite a moderation in core inflation, which measures the non-food non-fuel part of the Consumer Price Index basket. In the textbook world of inflation targeting, high inflation is taken as a sign of an overheating economy, …

WFP taps India for 200,000 tonnes of rice as global hunger worsens
1 year, 4 months ago

WFP taps India for 200,000 tonnes of rice as global hunger worsens

Live Mint  

New Delhi: The World Food Programme has sought 200,000 tonnes of rice for its humanitarian operations from India, the largest exporter of the commodity, amid what it called “catastrophic levels” of global food insecurity triggered by the covid-19 pandemic and the Ukraine war, two people aware of the development said. The request comes after the UN-brokered Black Sea grain deal, …

India should brace for a food inflation spike
1 year, 5 months ago

India should brace for a food inflation spike

Hindustan Times  

Most analysts expect India’s benchmark inflation measure, as measured by the Consumer Price Index to breach the 6% threshold in July. In July, tomatoes have played a big role, continuing to sell at very high prices, with signs that onions could generate additional tailwinds for food inflation. While price pressures from perishables such as onions and tomatoes will eventually die …

Rising food prices may undo recent respite from inflation
1 year, 5 months ago

Rising food prices may undo recent respite from inflation

The Hindu  

India’s retail inflation may have spiked close to or over the 6% upper tolerance threshold of the Reserve Bank of India in July, owing to a broad-based uptick in food prices, and could remain sticky in coming months, economists reckon. Core inflation may ease State Bank of India group chief economic adviser Soumya Kanti Ghosh is not as sanguine and …

Global food prices rise after Russia ends grain deal and India restricts rice exports
1 year, 5 months ago

Global food prices rise after Russia ends grain deal and India restricts rice exports

LA Times  

A farmer works in a rice paddy in June on the outskirts of Guwahati, India. Global prices for food commodities including rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the U.N. Food …

Global food prices rise after Russia ends grain deal and India restricts rice exports
1 year, 5 months ago

Global food prices rise after Russia ends grain deal and India restricts rice exports

Associated Press  

LONDON — Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly …

Food prices rise after Russia ends grain deal, India restricts rice exports
1 year, 5 months ago

Food prices rise after Russia ends grain deal, India restricts rice exports

Al Jazeera  

There are new risks to global food prices after Russia exited grain deal and India restricted some rice exports. Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice …

How El Niño could affect the economy and cost of living, with upward pressure on food prices
1 year, 5 months ago

How El Niño could affect the economy and cost of living, with upward pressure on food prices

ABC  

A looming El Niño could deal another blow to the hip-pocket of Australian's, according to analysts, with the potential to further increase food prices and cause fluctuations in the demand for commodities. "The increased likelihood of an El Niño event in 2023/24 and associated downgrade for agricultural production could put upward pressure on some food prices over the coming year," …

Discover Related