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Rising Food Prices Risk Making the Covid Hunger Crisis Worse

  • Costs of staples like grain are soaring around world
  • Russia’s export restrictions raise risk of ‘copycat’ policies
A Tomato Harvest As Pandemic Challenges Demand And Supply Chain
Photographer: Jeoffrey Guillemard/Bloomberg

Soaring costs for food staples are hitting at a time when some countries can ill afford it, risking exacerbating inequalities wrought by the Covid-19 pandemic.

A gauge of global food prices has climbed to a six-year high and may have further to run as a Chinese crop-buying spree and adverse weather bolsters markets. While costs remain below peaks seen in 2008 and 2011, the bigger bills come as economies grapple with the fallout from the coronavirus crisis, with millions out of work, tourism scarce and remittances low.