Investors cash in on food commodities as the poor go hungry | World News,The Indian Express
Food prices have risen sharply after the coronavirus pandemic disrupted global supply chains, causing shortages around the world. The price of food spiked even higher following Russia's invasion of Ukraine.
Rising consumer prices are aggravating food shortages around the globe, and investors looking to make a buck off food commodities could be making matters worse.
Food prices have risen sharply after the coronavirus pandemic disrupted global supply chains, causing shortages around the world. The price of food spiked even higher following Russia’s invasion of Ukraine. Both countries are major global suppliers of agricultural commodities, like wheat and sunflower oil.
“In Uganda, wheat and fuel prices have skyrocketed, making everyday goods like bread almost unaffordable to an ordinary citizen,” Anna Slattery, external affairs manager at The Hunger Project, a nonprofit that works to end world hunger, told DW.
“In Malawi, our teams are reporting that the prices of maize grain, soybeans and cooking oil have increased significantly, over 50% in some places. The increase in prices is making it difficult for people to access these vital food items.”
Investors trying to make money off the high demand for food and other commodities could be putting even more pressure on prices.
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