Global agriculture round-up for 2022

In 2022, the supply chain challenges and high input costs faced by farmers in the wake of the COVID- 19 pandemic took a new turn when Russia invaded Ukraine in February. Volatile weather conditions further exacerbated the situation, while commodity prices continued to soar.

-  Ellis Mnyandu

High inflation, slow growth: global economy at a crossroads

The spectre of stubbornly high inflation is poised to keep global central banks very busy well into the first quarter of 2023 as they scramble to ward off recession.

At the same time, these banks are endeavouring to contain price pressures that have sent food, energy and business costs soaring. Food costs are among the biggest contributors to inflation as the input costs of the supply chain increase, and are offset by pushing some of these costs onto consumers.

Analysts have warned that consumers across the globe face a bleak start to the new year, with overall food inflation running into double digits.

In the UK, food inflation hit a 45-year high in October, and was at a 43-year-high in the US, where prices shot up by 13,5% in the 12 months to September.