The global food supply chain’s path forward is anything but strait
Opinion: The Strait of Hormuz’s closure may have slipped off the headlines — but the long-term consequences to food supply and humanitarian disaster are not to be underestimated.
When the Strait of Hormuz closed six months ago, the global food and energy supply chain as we knew it came to an end. Like most other commodity intelligence firms, Helios AI expected global food prices to rise by more than 10%.
We were dead wrong.
Prices have risen by little more than 4%, fertilizer prices have retreated from their peak, and oil has fallen back from its highest of around $120 to below $100 per barrel. By the market’s usual measures, the world appears to have absorbed the shock.
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The views in this opinion piece do not necessarily reflect Devex's editorial views.
