Do not expect relief from high food prices anytime soon. USDA has raised its forecast for food inflation, to much higher numbers. When will we see relief?
As Ukraine halts grain exports and Russia limits exports of staples, countries already hit by pandemic supply chain disruptions are now facing decade-high food prices, rationing and the risk of food riots.
Blindly accepting the West’s ‘good-vs-evil’ narrative risks prolonging the crisis, and China is right to resist pressure to choose a side. Instead, it must focus on securing a speedy resolution to avert further bloodshed and a global food crisis.