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
Impact of these floods. The flooding so far in the month ofjuly is estimated to have cost around 25 billion usd. And of course the season for these sort of 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 drought. Last year, china was also hit by a very severe drought. So what were seeing is 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 were seeing at present in china and in recent years. And theres a lot of concerns that as Global Temperatures rise further towards that global target of one and a half degrees centigrade, that the impact and economic costs of these Severe Weather events will actually increase significantly further. So in your view, should there be more investment in infrastructure in order to prevent devastations that we saw . I think, given the expe
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