Food crisis

MY bold prediction is that by the end of this year or early next year, the country will be facing a full-blown food crisis if corresponding corrective measures are not undertaken by the government.

The looming food crisis was first triggered by the Covid-19 pandemic which caused serious bottlenecks in the production and logistics of food distribution as a result of strict economic lockdowns. When a glimpse of recovery was seen on the horizon, the Russia-Ukraine conflict struck early this year. Given that both countries are major producers and exporters of agricultural products, disruptions in their farm production and agricultural exports pushed global prices of agricultural and food commodities upward. In addition, since Russia is a leading petroleum producer and exporter, the economic blockade imposed against it by Western countries led to a series of oil price hikes including its by-products such as fertilizer.