For a while yet if in the future at all, pointing to an unstable global Food Supply Pressurised by the war in ukraine. Now the price of food in the uk rose by nearly 17. 5 in the year tojune, which was actually a fall from a high of just over 19 in the year to march, following an overall drop in the wholesale price of food which you can see here peaking when russia invaded ukraine last year. It has been trending downwards. But prices are still much higher than before the war and have started creeping up again. Lets discuss this with Kona Haque Head of reserach at commodities house ed and f man holdings. Good to have you on the programme. Do you agree with the Chief Economist at the Bank Of England that actually high food prices are here to stay . I think at least for the sure term we still have got some pressures that will keep prices elevated. The factors globally, the stocks, global stocks of the stocks, global stocks of the grains, the staples such as grains and oils, and sugar, the
in india, because we had the so called el nino weather phenomenon where asia is warmer than normal, we have all been talking about record temperatures this year across the world. this has impacted rice yield in india the world s largest importer exporter, doesjust india, thailand, does just india, thailand, vietnam doesjust india, thailand, vietnam and china, india has banned exports of rice and this is causing a big surge in rice prices which is a staple for half the world s community. the fact rice has been banned out of the country, is pretty significant and who knows what else will soon start being controlled as well because at the end of the day a field start falling in one country, that could lead to a trigger panic buying by other governments, or it could lead to further export bans from other origins, i think there is a cumulative effect and when