Are food riots brewing? Global food prices are the highest since the Eisenhower administration.
Published on 29.6.2022
An article written by Blue State Conservative.
We have all been shocked by the recent sharp rise in food prices. It seems that every time we go to the supermarket the prices keep going up.
One wonders, on an aggregate level, how much food prices have risen relative to historical norms. Also, how will high food prices affect culture, not just in the United States, but around the world? Is a global food crisis coming, which could lead to social conflict? Even food riots?
The FAO Food Price Index (FFPI) is a measure of the monthly change in international prices of a basket of food products. It is made up of the average of five product group price indices weighted by the average export shares of each group over 2014-2016.
A feature article published in the June 2020 edition of the Food Outlook presents the revision of the base period for the calculation of the IPFF and the expansion of its price coverage, which will be introduced from July 2020. An article from November 2013 contains technical background on the previous IPFF build. Monthly release dates for 2022: January 6, February 3, March 4, April 8, May 6, June 3, July 8, August 5, September 2, October 7, November 4 and December 2.
See the latest June 2022 release in the graphic below and find out more here.
The orange line above is the non-inflation-adjusted price, and the yellow shows the inflation-adjusted price for that index. It should be understood here that the inflation-adjusted index shows that it is at its highest level in 62 years and is about 50% higher than the historical average of 100.
Statistics highlights a link between this rise in food prices and potential political unrest. The Russian war in Ukraine had immediate repercussions on world food markets, given the role of these countries as major exporters of essential agricultural products, such as wheat, sunflower oil, barley and corn. , while also affecting perishables such as fruits and vegetables.
In the past, similar food price spikes have caused unrest, mostly in developing countries, and even coincided with the Arab Spring of 2011, when people in North Africa and the Middle East were forced by oppressive regimes and feeling additional pressure on their livelihoods due to high prices, rose up and overthrew several regional regimes. The current level of food prices even exceeds the peaks seen in 2011 and 2008, when prices of food and other commodities rose dramatically, causing unrest in several African countries as well as Bangladesh, Haiti , Indonesia and Yemen. The onset of the global financial crisis put an end to the price spike that year.
In the current situation, Human Rights Watch warned that a food crisis could again hit North Africa and the Middle East, as several countries in the region are major importers of Russian or Ukrainian food products. According to Chris Barrett, professor of economics at Cornell University, the risk of disorders is again increased. In early June, food prices had already sparked protests around the world, including in Asia, Africa, the Middle East, Latin America and Europe. See this link in the graphic below.
Is there a food crisis coming? Well, our elite lords seem to think so. UN Secretary General António Guterres said that the war in Ukraine has added to the disruption caused by climate change, the COVID-19 pandemic and inequality to produce an “unprecedented global food crisis” which is already affecting hundreds of millions of people. Trump’s former deputy national security adviser KT McFarland says a major food shortage is coming in the coming months.
Watch the video below.
But you might think that only happens in distant third world countries. There is no doubt that a 50% increase in your food budget is less serious in western countries than in third world countries, but what happens when you can’t get food at n any price – as we have seen recently with tampons and formula? Remember (see video below) what Americans did when they couldn’t afford toilet paper?
Could rising food prices and/or food shortages cause food riots in America? What would Americans do if they were really hungry?
Do we trust that our current government leaders could handle such a potential situation?
By Tom Williams at Right Wire Report