Food Inflation: Tight Grain, Oilseed Supplies to Keep Prices Elevated

[Epoch-Times-Bot]

Food Inflation: Tight Grain, Oilseed Supplies to Keep Prices Elevated

SINGAPORE—Drought or too much rain, the war in Ukraine, and high energy costs look set to curb global farm production again next year, tightening supplies, even as high prices encourage farmers to boost planting.
Production of staples such as rice and wheat is unlikely to replenish depleted inventories, at least in the first half of 2023, while crops producing edible oils are suffering from adverse weather in Latin America and Southeast Asia.
“The world needs record crops to satisfy demand. In 2023, we absolutely need to do better than this year,” said Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney....

Source: Food Inflation: Tight Grain, Oilseed Supplies to Keep Prices Elevated

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