Within the first half of the 2022 agricultural year, China will have grabbed 69% of the world reserves of corn for livestock feed, but also 60% of rice and 51% of wheat at the base of human nutrition in different continents, with consequent strong price increases across the planet. The association of Italian farmers Coldiretti launches the alarm on the basis of the analysis of Nikkei Asia on data from the US Department of Agriculture (USDA). The effects are confirmed by the quotations of food commodities, which have reached the highest level worldwide in the last ten years driven by strong increases in vegetable oils, sugar, and cereals.
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In November 2021 the FAO Index reached the highest value since June 2011, due to an increase of +27.3% compared to 2020. International prices of cereals increased by +23.2%, while dairy’s rose by +19%, sugar’s by more than +40%, and vegetable fats’ by +51.4%. “Because of the pandemic – says Coldiretti – a scenario of hoarding, speculation, and uncertainty about the effects of climate change has opened up, pushing states to grab goods that are essential to ensure the feeding of the population. The increase in quotations also confirms a greater awareness of the strategic value of food and the necessary guarantees of quality and safety”.