Worldwide Surging Food Prices: Bloomberg

The prices of wheat and rice have been surging in the spot and future markets. Countries that rely on imports must bear additional financial burden besides confronting COVID-19. The reasons for the price increases remain unclear, with analysis of the future markets’ influence, local supplies and panic buying underway. Anxiety over governments’ ability to control food prices and guarantee supply is spreading. Countries like Russia, Kazakhstan and Vietnam have restricted the export of crops to protect domestic food security. The price of rice exported from Thailand, the second largest rice shipper, has reached a six-year high. Meanwhile, high prices pose a threat to the political stability of those countries sensitive to price changes. An appreciating US dollar makes crops and other commodities more expensive. Also, a changing climate may lead to reduced production and spark further rises in food prices.– YaleGlobal

Worldwide Surging Food Prices: Bloomberg

Surging crop prices, combined with restrictions on exports and a rising US dollar, could threaten global food security under the pandemic
Agnieszka de Sousa, Ruth Olurounbi and Pratik Parija
Friday, April 10, 2020

Read the article from Bloomberg about rising rice prices and anxiety about food security.

Agnieszka de Sousa is an agriculture and food reporter for Bloomberg.

Ruth Olurounbi is an economics and government reporter for Bloomberg.

Pratik Parija is an agriculture reporter at Bloomberg based in New Delhi.

Thai rice prices US$ Month	Thai Rice Quote, US$ per metric ton 2015M1	409.7 2015M2	409.5 2015M3	400.7 2015M4	392.4 2015M5	382.4 2015M6	370.5 2015M7	387.7 2015M8	375.6 2015M9	358.8 2015M10	360.5 2015M11	358.4 2015M12	354.3 2016M1	359.5 2016M2	373.2 2016M3	370.5 2016M4	376.0 2016M5	408.8 2016M6	420.7 2016M7	456.2 2016M8	414.2 2016M9	384.0 2016M10	367.7 2016M11	360.8 2016M12	367.5 2017M1	372.5 2017M2	368.5 2017M3	367.8 2017M4	374.5 2017M5	402.9 2017M6	444.7 2017M7	420.0 2017M8	405.7 2017M9	413.1 2017M10	407.2 2017M11	404.0 2017M12	408.0 2018M1	422.3 2018M2	417.9 2018M3	409.8 2018M4	432.4 2018M5	433.2 2018M6	413.1 2018M7	378.7 2018M8	383.4 2018M9	383.0 2018M10	392.0 2018M11	390.8 2018M12	380.3 2019M1	383.7 2019M2	390.6 2019M3	383.1 2019M4	397.4 2019M5	390.3 2019M6	396.3 2019M7	396.0 2019M8	414.7 2019M9	415.4 2019M10	399.1 2019M11	394.6 2019M12	397.0 2020M1	428.5 2020M2	430.3 2020M3	471.7

(Source: IMF)

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