Tag: food price inflation

Food price inflation has raised concerns about food insecurity and systemic crises in East and Southeast Asia, given the region’s population size, economic significance, and role in the international food market. COVID-19 repercussions, extreme climate- and weather-induced events, anthropogenic stressors such as global economic softness and the Russia-Ukraine war, and many other uncertainties enlarged the supply-demand imbalance of food. Those factors are not likely to ease in the short term and in the meantime, potentially new food crises are simmering in East and Southeast Asia. Meanwhile, China’s reopening and deepened intraregional integration have allowed the region’s food price situation to be less grim than elsewhere. This article conducts a political-economic analysis in order to identify the major forces driving recent food price inflation in the region as well as to explore what proactive measures can build greater food system resilience during the post-COVID-19 recovery. This article recommends that ountries refrain from imposing further export restrictions (whatever their form), and instead deepen dialogues and cooperation in order to facilitate food system resilience against the looming risks, such as El Niño.

This exploratory article focuses on the factors influencing recent food price inflation in Latin America. The onset of the pandemic has significantly heightened concerns regarding food price inflation. Quarantines, mobility restrictions, and uncertainty all occurring in quick succession have led to substantial disruptions in both local and global value chains. Furthermore, the Ukraine-Russia conflict has exacerbated the existing inflationary situation, introducing additional interruptions and disturbances to agribusiness value chains. Drawing upon empirical research, this article examines the impact of the SARS-CoV-2 pandemic and the subsequent Ukraine-Russia conflict on food price inflation in Latin America. It also assesses the policy measures implemented by countries and provides future projections in this regard. Regional food inflation processes have prompted concerns regarding the vulnerability of food security and the weakness of supply chains in the region. It is crucial to consider the relationship between these processes and the overall price level of the economy. The evidence indicates that food prices have experienced more pronounced increases compared to the rest of the economy, suggesting a surge in prices relative to other consumer goods. This has directly impacted agricultural producers and end consumers of food.