More Supply Chain News
48 Charged For Stealing $250 Million From Pandemic-Related Food Aid Program
New Biden Plan Aims To End Hunger In US By 2030
Spanish Olive Oil Producers Devastated By Worst Drought Ever
Seafood Watch Group Lists New England Lobster As Seafood To Avoid
China Targets Global Fish Supply As It Owns Seafood Stocks Disappear
Ukraine War Creates Worst Global Food Crisis Since 2008, Says IMF
Image Source: Reuters/Umit Bektas
About 345 million people now face life-threatening food shortages, according to the International Monetary Fund. The primary cause? Grain and fertilizer supply chains disrupted by the Ukraine war and climate change. Price hikes have increased import costs for the 48 most vulnerable countries by $9 billion. Its recommendations include eliminating food export bans and increasing humanitarian assistance by $1.3 billion through the World Food Programme.
Food Prices Fell Again In July, Says UN Agency
Image Source: Reuters
The UN tracks the most globally traded food commodities through its world food price index. The index hit a record high in March and has been gradually dropping since. In July, vegetable oil, sugar, dairy, meat, wheat, and corn prices all fell month-over-month, partly due to a deal reached between the UN, Ukraine, Russia, and Turkey to unblock grain exports from the Black Sea. While lower food prices are welcome, the July numbers are still 13.1% higher than a year earlier, and consumers are still reeling from higher-than-normal food costs.
More Supply Chain News
Feds Target US Companies Caught In Lucrative Shark Fin Trade
Whole Foods Sued For False Label Claims On "Antibiotic-Free" Meat
Sustained Drought Halts Production Of French Salers Cheese
Demand For Grocery Delivery Down 26% Since 2020
Five Countries, Five Meals: How The World Is Adapting To Food Supply Challenges
Sacrebleu! Dijon Mustard Shortage Sparks French Food Crisis
Image Source: Maurice Rougemont/Getty Images
The French consume more mustard than anyone else in the world, and the condiment is a staple of the cuisine, served with everything from steak to salad. But for months, the shelves have been empty, driving French consumers to look for mustard in odd places such as Facebook Marketplace. The cause? Climate change. About 80% of the brown mustard seeds used to make Dijon mustard come from Canada, where suppliers are struggling to meet demand. As a result, retail prices are up about 25% in France. US consumers do not appear to be affected by the shortage, mostly because US demand for mustard is not as great.
USDA Allocates $2.1 Billion To Strengthen US Food System
Image Source: Bloomberg/Getty Images
The pandemic, climate change, and the Ukraine war exposed some cracks in the US food supply chain. To wit: skyrocketing food prices and chronic shortages. To help shield us from future shocks, the USDA is pumping more than $2.1 billion into shoring up our food system, including $900 million for food processing worker training and supply-chain infrastructure, $550 million for developing small regional food businesses and reducing food waste, $375 million for organic and urban agriculture projects, and $370 million to boost public access to healthy food. Bring it on, monkeypox. We'll be ready for you.
More Supply Chain News
Martin's Potato Rolls Embroiled In Political Controversy
Chilean Seabass OverFished Again Due To US/UK Feud
Lack Of Chili Peppers Leads To Sriracha Shortage
Daily Harvest Meal Kits Recalled After Multiple Illness Reports
How The Russia-Ukraine War Fractured Global Food Systems
Inside The Infant Formula Shortage
Image Source: Getty Images
A massive recall back in February gets blamed for the current baby formula shortage. But economics experts say the industry has long been vulnerable because 98% of the US supply is manufactured domestically, and most of it by only four companies. Perfectly good and safe formula is available around the world, but we can't access it due to decades-old laws preventing an import infrastructure. The US is nearing an agreement to fly in 1.25 million cans of formula from Australia, but in the meantime rich parents are tapping into the black market.
