Global Food Shortage Looms as Trifecta of Challenges Hits Markets

A severe food shortage is looming on the horizon, exacerbated by a trifecta of higher input costs, disrupted trade routes, and a changing climate.

The global economy is bracing for another inflationary wave, this time centered around food. The poorest nations will be hit hardest as food exporters, including Australia, struggle to cope with soaring prices for refined fuel and fertiliser.

Australia's wheat exports are expected to drop significantly, from 10-15% of the global market down to just 5%. Meanwhile, global wheat shipments have ground to a halt due to the conflict in Ukraine, which accounts for nearly a third of global wheat trade.