Global Conflict Drives Up Prices of Bread, Oil, and Corn
When global conflicts arise, tensions affect prices, causing food costs to skyrocket - especially for everyday items. This is due to geopolitical disruptions in key trade regions that create ripple effects across global supply chains.
According to Jon Bahl, CEO of Linnworks, these disruptions particularly affect sectors such as food and drink, retail, and fashion that rely heavily on international sourcing and tightly managed inventory cycles.
The Iran war has escalated, leading to several grocery basics being expected to rise in price. Many countries involved in conflicts play a major role in international trade.
Three staples that typically spike during a global conflict are wheat-based foods like bread and pasta, cooking oils, and corn prices.