As economies tumble, inflation surges and global food prices soar to critically high levels, two sectors seem to have hit the jackpot in 2022 – energy giants and grain traders.
An estimated 345 million people may now be in acute food insecurity, compared with 135 million before the pandemic. Vulnerable populations face destitution in poorer food-importing countries such as Lebanon, Yemen, Sudan and Somalia. Poor consumers in rich countries are struggling to put food on the table.
Supply shocks caused by the COVID-19 pandemic and Russia’s invasion of Ukraine have been the spark for this inferno of hunger. But the kindling for the fire was already stoked: the severe, underlying weaknesses in our food system.
