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
Expert rajiv biswas, who explained the Economic Impact of these floods. Of these floods. Well if flooding of these floods. Well if flooding so of these floods. Well if flooding so for of these floods. Well if flooding so for any of these floods. Well if i flooding so for any month of these floods. Well if flooding so for any month of july is estimated to cost around 25 billion us dollars, then of course the season for then of course the season for the extreme weather events is not yet over, august and september, historically, have also often had Severe Weather events, such as typhoons and floods, as well as droughts. Last year china was also hit by very severe drought. So what were seeing increasing impact of Severe Weather events on china and this is, of course, linked to rising temperatures globally, Climate Change is very much linked to what we are seeing at present in china and in recent years and there is a lot of concern that as Global Temperatures rise further towards that globa
I mean, these figures for trade are actually even worse than economists had anticipated in terms of exports. Its the weakest data since back in february 2020, when china, of course, was right in the thick of the pandemic. Why is this data so bad . Well, its mainly to do with chinas customers abroad. Theyre really struggling with high inflation, high Interest Rates. So theyre spending less money on chinese goods. And if youre a policymaker in beijing, well, its difficult to say what you should do about that. You cantjust force other countries to start buying more of your goods. But theres also more to contend with. If you look at the spending within china, thats also looking not very encouraging at the moment. Tomorrow, were expecting some more figures to be coming out, which will probably show Deflation Prices actually going down in china. Thats a bit more difficult to explain. But there are some people who think that chinas Zero Covid Policy went on for so long that customers just are
saying they had accomplished things many thought not possible. he had been with tesla for 13 years, he took over the finance role in 2019. during that time tesla s profits and market valuation sword, no reason was given for his exit, but his departure does raise questions over who will succeed elon musk, a busy man who runs spacex and the former twitter platform, x, the accounting hid or take over the role of cfo, but no word yet whether he will inherit the title of master of coin. a name that was given to mr kirk on backin that was given to mr kirk on back in march 2021. let s get some of the day s other news 110w. the online payments giant paypal has launched a us dollar stablecoin. dubbed paypal usd, it s fully backed by the american dollar and short term us treasuries. the move makes paypal the first major financial tech firm to embrace such digital currencies for payments and transfers.
and to his colleagues, saying, quote, they had accomplished things many thought not possible . mr kirkhorn had been with tesla for 13 years. he took over the finance role in 2019. during that time, tesla s profits and its market valuation soared. no reason was given for his exit, but his departure does raise questions about who will succeed elon musk, a busy man, who also runs spacex and the former twitter platform x. accounting head vaibhav taneja will take over the role of cfo, but no word yet whether he will inherit the title of master of coin, a name that was given to mr kirkhorn back in march 2021. in other news: the online payments giant paypal has launched a us dollar stablecoin. dubbed paypal usd, it s fully backed by the american dollar and short term us treasuries. the move makes paypal the first