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Inflation & Prices

Food Prices Will Likely Be Lower Next Year, Cargill CEO Says

  • Still, just one bad crop would be enough to send prices higher
  • Crop demand for food and fuel can be met with higher ouput
Bloomberg business news
WATCH: Cargill CEO MacLennan talked about the outlook for food prices, and how the war in Ukraine and climate change are affecting supply.Source: Bloomberg
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Food prices will probably decline next year, even as global crop stockpiles stay very tight, especially for oilseeds, said David MacLennan, chief executive officer of Cargill Inc., America’s largest private company. 

“All it takes is one really bad crop, let’s say in North America or South America, to really send prices higher,” he said at the Bloomberg New Economy Forum in Singapore on Wednesday.