The simmering Russia-Ukraine crisis is endangering the global food supply, threatening to create food shortages and drive prices even higher, with wheat, corn, and sunflower oil among the items that will be most affected. Russia and Ukraine combined account for roughly 80 percent of global sunflower oil exports, 29 percent of the world’s wheat exports,…
Russia-Ukraine Crisis Threatens Global Food Supply; Wheat, Corn Supply Disruptions Anticipated
February 22, 2022
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Supermarket Staples Increased by 8 Percent Across Britain’s Main Grocery Stores
Supermarket staples like pasta, tinned tomatoes, and strawberry jam increased in price by around 8 percent in just one year. According to new figures, the overall price of a basket of 15 standard food items rose by £1.32 ($1.79). The data analysed by the BBC came from the retail research firm Assosia, which tracked the…
Starbucks Raises Prices as Inflation Eats Into Profits
February 2, 2022
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Starbucks said it will continue to raise menu prices because of inflationary pressures and persistent supply chain disruptions that have resulted in manufacturers across industries being unable to receive raw materials on time. “[We have] already taken pricing actions this fiscal year, one in October 2021 and another in January 2022. And we have additional…
UK Inflation Soars to 30-Year High as Food Prices Surge
Inflation in the UK has risen to the highest level for nearly three decades, fuelled by rising food and energy prices. According to latest figures from the Office of National Statistics (ONS), the Consumer Prices Index (CPI) rose by 5.4 percent in the 12 months to December 2021, up from 5.1 percent in November. This…
Industry Insiders Concerned Ottawa’s Vaccine Mandate on Truckers Will Lead to Labour Shortage, Shelves ‘Empty’ at Grocery Stores
Industry insiders are concerned that the federal government’s vaccine mandate on cross-border truckers will worsen the already strained supply chains, leading to shortages at grocery stores. “Ottawa’s plan to require all truckers entering from the United States to show proof of vaccination starting Jan. 15 cannot happen at a worse time,” said Sylvain Charlebois, professor…
Industry Insiders Concerned Ottawa’s Vaccine Mandate on Truckers Will Lead to Driver Shortage, Empty Store Shelves
Industry insiders are concerned that the federal government’s vaccine mandate on cross-border truckers will worsen already-strained supply chains, leading to shortages at grocery stores. “Ottawa’s plan to require all truckers entering from the United States to show proof of vaccination starting Jan. 15 cannot happen at a worse time,” Sylvain Charlebois, professor and senior director…
World Food Prices Hit 10-Year High in 2021
PARIS—World food prices jumped 28 percent in 2021 to their highest level in a decade and hopes for a return to more stable market conditions this year are slim, the U.N.’s food agency said on Thursday. The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded food commodities, averaged 125.7…
Canadians Will Pay $966 More for Food in 2022: Report
Canadians will have to pay an extra $966 for food in 2022, with COVID-19-fuelled supply chain disruptions, labour shortages, adverse weather, transportation challenges, and high inflation all driving up grocery costs, a new report says. Canada’s Food Price Report (pdf), published Dec. 9, predicts that an average Canadian family of four will pay a total…
Urea Shortage is Putting Pressure on Global Food Prices
Urea, a key ingredient in agricultural fertilizer and diesel fuel, is skyrocketing in price due to disruptions in the global supply of this essential chemical. The dramatic rise in the cost of urea exports, which have in turn led to increased food and fuel prices, is exposing the vulnerabilities of an interconnected supply chain. The…
Food Inflation Weighs on US Households as Prices Soar in October
The U.S. annual inflation rate surged at its fastest pace in 31 years, driven by skyrocketing food and energy prices. Staples found in kitchens across the country were more expensive in October, weighing on families’ monthly or weekly grocery budgets. On the protein front, beef and veal prices increased 20.1 percent year-over-year. Pork cost 14.1…
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