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05.09.26 - 15:45
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Alarm Bells Ring As Global Food Prices Hit 2022 Highs, Perfect Storm Stokes New Inflation Shock (ZeroHedge)
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Alarm Bells Ring As Global Food Prices Hit 2022 Highs, Perfect Storm Stokes New Inflation Shock
The United Nations Food and Agriculture Organization's global food-commodity index climbed in August to its highest level since 2022, with the index now gaining momentum to the upside. The upside reinforces warnings from several major Wall Street desks, which we have covered extensively, that global food shortages could materialize next year.
The United Nations Food and Agriculture Organization's (FAO) Food Price Index, which tracks monthly changes in the international prices of a basket of globally traded food commodities, averaged 133.3 in August, up 1.9% from July, with every major category advancing. Sugar prices surged 11.9%, while wheat gained 2.6% and now stands 15% above year-ago levels.
The surge in global food prices comes as a perfect storm of factors emerges, from El Niño and higher fertilizer and diesel prices to disruptions in the Black Sea and the Strait of Hormuz, all of which cou...
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05.09.26 - 13:00
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Global food prices rise 1.9%, says UN body; highest since 2022 amid weather, war disruptions (Times of India)
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Food prices worldwide hit the highest levels since late 2022 in August, fueled by unpredictable weather conditions and rising geopolitical conflicts. These factors, coupled with interruptions to trade pathways, are raising alarms over the supply of vital commodities. This troubling update was shared by the UN Food and Agriculture Organization on Friday, underscoring the increasing vulnerabilities of global food systems....
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05.09.26 - 08:18
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Food delivery riders call on platforms to open up AI ′black box′ they say has cut pay (The Guardian)
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Workers who blame algorithms for lowering their earnings are getting help from academics to find out how the system worksGig economy workers are urging delivery platforms to open up the “black box” of computer-driven algorithms that determine the jobs they are offered and how much they are paid, blaming increased use of AI for lowering wages.A group of food delivery riders in Edinburgh say their rates of pay have fallen and their working conditions have deteriorated at the same time as Deliveroo, Uber Eats and Just Eat, the three dominant gig economy platforms in the UK and Ireland, have increased their use of automation. Continue reading......
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04.09.26 - 21:54
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US Open Players Make Fashion Statements, Drive Retail (Bloomberg)
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Dana Telsey, CEO & chief research officer at Telsey Advisory Group, joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss the fashion statements being made by players at the US Open and how that translates to consumers.
(Source: Bloomberg)...
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04.09.26 - 16:42
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Deadly Black Sea attacks threaten grain exports and higher food prices (The Guardian)
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Russian and Ukrainian attacks on each other's vessels in July killed more crew than during whole war to that month A summer of hostilities in the Black Sea proved deadly for seafarers, as Russia and Ukraine attacked each other's ships and port infrastructure, preventing vital grain exports and prompting concerns tha the conflict will push global food prices even higher.More crew were killed in the Black Sea in July than during the entirety of the war before that month as the conflict has intensified, making the body of water the most dangerous in the world for commercial shipping. This is despite the conflict between the US and Iran, with vessels still being targeted in the strait of Hormuz, Red Sea and Gulf of Aden. Continue reading......
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04.09.26 - 08:12
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UK has not done enough to prepare for shocks to food supplies, says watchdog (The Guardian)
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National Audit Office urges government to act as climate crisis, disease and cyberattacks pose growing risksThe climate crisis, disease and cyber-attacks pose growing risks to the UK's food supplies and the government needs to act to make the system more resilient, according to the public spending watchdog.The National Audit Office (NAO) is urging the Department for Food, the Environment and Rural Affairs (Defra) to work more closely with households, communities and businesses to ensure the flow of crucial food into the country can withstand supply shocks that are becoming increasingly common and severe. Continue reading......
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