Russia’s war against Ukraine and the resulting sanctions are pushing the world into a food crisis, according to fertilizer and coal billionaire Andrei Melnichenko. The war “has already led to soaring prices in fertilizers which are no longer affordable to farmers,” Melnichenko, the founder of EuroChem, one of Russia’s biggest fertilizer producers, said to Reuters….
Ukraine War Triggering Global Food Crisis, Possible Rise in ‘Chronically Hungry People’
March 14, 2022
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Business & EconomycommoditieseconomyEuropefertilizerhigher food pricesinflationInternationalMarketsRussia Ukraine invasionRussia-Ukraine Warrussian exportswheat productionWorld
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PepsiCo, Coca-Cola Revenues Exceed Expectations, But Inflation Has Its Effects
Rival soft drink companies PepsiCo and Coca-Cola said on Feb. 10 that rising costs for packaging and transportation could put pressure on profits this year, despite the two having exceeded sales expectations due to robust demand from consumers. The announcements were made as the Labor Department released its dismal report, showing U.S. inflation accelerating to…
Americans Pay More for Meat as Tyson Foods Escalates Prices
November 16, 2021
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Business & EconomyCompanieseconomyfood inflationhigher food pricesinflationMeat processingTyson FoodsUSUS News
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Tyson Foods Inc., the largest meat company by sales in the United States, has reported a jump in revenue after increasing prices for its products, citing supply chain issues, soaring costs, and 30-year-high inflation. Based in Springdale, Arkansas, Tyson company executives said that chicken prices went up by 19 percent during the fiscal fourth quarter,…
Consumers Should Expect Higher Food Prices, Says Kraft Heinz Boss
Shoppers should expect to see higher food prices, according to the Kraft Heinz chief. Miguel Patricio said the firm is “raising prices, where necessary, around the world” of products including ketchup and baked beans. Patricio said this was because of a lack of truck drivers in the UK, labor shortages, and an increase in logistics…
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