Economists might like to believe that inflation is somehow a monetary phenomenon. But as we are all likely to learn to our cost over the winter, food and energy prices are critical for most people. Oil prices are already rising. And food prices are joining them.
Chemicals and the Economy
World Bank, IMF warn of famine risk as Russia’s war hits wheat output and hikes fertilizer costs
Essentially, the problem is a timebomb which is set to explode next winter unless governments work together to increase arable planting, establish emergency stocks, and subsidize fertilizer costs whilst gas prices remain at today’s record levels.
Wheat prices add to CFO concerns
Wheat prices rose 25% yesterday, the biggest one-day rise ever, as Kazakhstan imposed restrictions on wheat exports. The rationale for today’s rising prices is three-fold: • US farmers have shifted land over to corn, to meet increased ethanol demand, and US wheat inventories are forecast to hit 60 year lows • Emerging countries are now […]
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