Economist Podcasts Cereal numbers: the fall in food prices
Sep 5, 2022
Mike Bird, Asia business and finance editor at The Economist, shares expert insights on global food price dynamics, revealing how Russian wheat exports are influencing market stability. Meanwhile, Slavia Chankova, the publication's health correspondent, discusses the alarming resurgence of polio in the West, emphasizing vaccination challenges. They also explore the controversies surrounding the viral 'Pink Sauce,' highlighting the difficulties cottage food producers face in a social media-driven world.
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Food Prices Rebound
- Food prices are at near record highs, raising global alarm.
- However, some food prices are returning to pre-war levels, offering a morsel of good news.
Russian Wheat Exports
- The drop in food prices isn't due to the Black Seaport deal.
- It's primarily because of strong Russian wheat exports, exceeding expectations.
Record Russian Wheat Harvest
- Russia is predicted to export a record 42 million tons of wheat in 2022-2023.
- This bumper harvest and steady demand from neutral countries offset reduced Ukrainian exports.