‘Food Wars’ Are Imminent, Warns Top Commodities Trader. Expect Food Prices To Rise Dramatically

Food shortages are on the horizon, warns Sunny Verghese, CEO of Olam Agri, a Singapore-based agricultural trading firm, who spoke at the Redburn Atlantic and Rothschild consumer conference last week, who warned that the world is facing a period of “food wars” due to escalating geopolitical tensions.

“We have fought many wars over oil. We will fight bigger wars over food and water,” Verghese said, the Financial Times reported. He added that ‘food protectionism’ has forced some countries to increase domestic food supplies, exacerbating food inflation.

Verghese noted that a wave in non-tariff trade barriers in 2022 due to the war in Ukraine – 1,266 from 154 countries he counts – had sparked “an exaggerated demand-supply imbalance.” Price spikes due to things such as the Russia-Ukraine war or El Nino, and will not return to normal levels anytime soon.

Because wealthier counties are stockpiling more food, it has forced prices to remain higher. “India, China, everybody has got buffer stocks,” he said, adding, “That is only exacerbating the global problem.”

SEE: Global Food Shortages Continue To Worsen. India Bans Rice Exports After Russian Grain Deal Fails, As US Crop Failures Persist

The FT wrote: ‘In 2022, Indonesia banned palm oil exports to protect the local market while last year India imposed export restrictions on certain types of rice in an effort to curb rising domestic prices ahead of parliamentary elections, after a volatile monsoon disrupted production and spurred fears of a supply shortage.’

Another example of this is the U.S. purchasing 1.5 billion dollars worth of fertilizer from Russia in 2023. But this trade is soon to stop and weigh heavy on American farmers.

The EU is also further decoupling from Russia. Euractiv reported: ‘At a time when the EU is working on decoupling its economy from Russia, the figures are startling! Since the 2020/2021 agricultural season, EU imports of Russian urea have doubled. Russia now accounts for around a third of the EU’s total imports. France imports 80% of its fertilizer needs from Russia.’

The paper added: ‘As EU farmers’ dependence on Russian fertilizers has grown, the state of our domestic fertilizer industry has suffered from the impact of cheap imports. Around 20% of EU fertilizer capacity is currently lying idle because of a lack of demand as cheaper Russian urea has replaced fertilizers made in the EU. Russian exporters have priced their products in a very targeted way, so they are slightly but consistently cheaper than the EU’s production costs. […] The Europeans fertilizers industry calls on the EU to take the strongest possible action to stop Russia using urea exports as a weapon.’

Learn more about the situation in the video below:

https://www.youtube.com/watch?v=TtMH0wcVBgw&t=15s

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AUTHOR COMMENTARY

Since The WinePress’ inception I have been warning about increasing food shortages and price hikes that would continue to snowball year over year, and would eventually cascade into serious disparities and eventually famine; which accelerated greatly when that Russia-Ukraine war broke out, as we examined as it was happening and how it would drastically affect food and energy costs.

Moreover, I’ve covered on a number of occasions severe crop failures all around the world, thus making the problems worse.

• SEE: Hunger Games: World Bank And Cargill Simulated Food Crisis That Starts In 2020 During Pandemic, Predicts Carbon And Meat Taxes In 2024
• As Media Declares “Global Hunger Crisis” Media Blasts Organic Farming, Looking To Implement Gene-Edited Foods
• UN Warns That The War In Ukraine Will Create Major Food Shortages, Calling It A ‘Catastrophe On Top Of A Catastrophe’
• World Bank Announces Planned Actions For Global Food Crisis Response
• Global Food Import Bill Set To Rise As The UN Reports ‘Alarming Signs’ For 2023
• The EU Is Running Out Of Food. Trudeau And Others Warn About Food Scarcity. Meat Taxes And Licenses Proposed
• Biden Finally Declares That There Will Be Food Shortages. Food Riots Breakout Across The World. Attack On Meats Intensifies
• Ukraine Descends Into Anarchy. Propaganda Gets Even Dumber. Food Crisis Is Now A Reality With Massive Famine Coming
• Kansas Wheat Farmers Abandon Crops After Extreme Drought, Set To Cause Major Shortages

The takeaway from these recent warnings is simple: prepare for a new tidal wave of higher food and energy prices, which will greatly exacerbate basic living costs.

This is why I continue to emphasize that you must continue to build your food and water stores the best that you can, especially as we are now witnessing yet another wave of inflation at the grocery stores. Things are only going to worsen this year and ESPECIALLY in 2025…

Proverbs 27:12 A prudent man foreseeth the evil, and hideth himself; but the simple pass on, and are punished.

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[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).

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