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LATEST NEWS UPDATES | The global threat to our food security -Himanshu

The global threat to our food security -Himanshu

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published Published on Aug 26, 2022   modified Modified on Aug 26, 2022

-Livemint.com

We must raise procurement to prepare for a possible rise in inflation as global food supplies shrink

Recent data on inflation suggests a softening of the trend of rising inflation in retail prices. Much of the inflation this year has been driven by rising food prices, particularly edible oil and more recently cereals, primarily wheat. This has followed the global trend in food prices, which softened last month, even though they remain 13% higher compared to last year. While overall domestic food inflation has moderated, both rice and wheat prices have been showing an upward trend. Wheat retail inflation in July reached a high of 11.7% while wholesale wheat inflation has been at 13.6%, July being the 9th month with double-digit inflation in wheat. Rice inflation has been lower so far, but has shown a retail and wholesale uptick. While these numbers do not suggest any cause of worry so far, data on production domestically as well as globally suggest that the threat to food security isn’t over.

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Livemint.com, 26 August, 2022, https://www.livemint.com/opinion/online-views/the-global-food-crisis-is-likely-to-threaten-food-security-in-india-11661450947719.html


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