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Don’t Bank on Food Getting Cheaper Quickly If Crop Prices Ease

Customers look at fresh produce in a supermarket in Taguig City, Metro Manila, the Philippines.

Customers look at fresh produce in a supermarket in Taguig City, Metro Manila, the Philippines.

Getting food on shelves will probably remain expensive for a while yet, even if crop prices decline.

That’s according to Tosin Jack, a commodity intelligence manager at researcher Mintec in the U.K. Although she sees agricultural commodity prices beginning to peak and likely retreating into the second half of the year, it could take until at least 2023 until consumers feel the benefit at the checkout.