MOSCOW, February 28 – RIA Novosti. World food prices have reached their highest level in the past six years, and a number of countries will be most affected by this rise, Bloomberg reports.
The article notes that in the “hot spots”, which include Russia, Brazil, Turkey, India and Nigeria, the consequences of the rise in food prices will be the most serious. This is due to the fact that the inhabitants of these countries spend most of the consumer basket on food.
Among the reasons for the rise in food prices, the agency cites increased demand from China, adverse weather conditions and the vulnerability of food supply chains.
According to senior researcher at the Institute of World Economy Peterson Cullen Hendrix, the impact of rising food prices will be felt longer than the coronavirus pandemic and “go beyond it.” The Ministry of Agriculture of Russia, in turn, said that it sees no reason for a jump in prices.
In addition, according to the authors of the publication, the danger of inflation can be triggered by the introduction of quotas on grain exports and the setting of maximum prices for some goods.