UN Warns of ‘High Food Price Hot Spots’ in Africa, Hyperinflation an Many Countries
July 9, 2021 (EIRNS)—The UN News office issued a release July 8 on the crisis of rising food prices, quoting Arif Husain, Chief Economist at the UN World Food Program, that, “High food prices are hunger’s new best friend.” Overall, the WFP paid 13% more for wheat for food relief, during the first four months of 2021, than it paid in 2020. Individual countries—especially the poor and food-import dependent—are experiencing terrible price shocks. The release “Amid COVID Job Losses, ‘High Food Prices Are Hunger’s New Best Friend’, WFP Warns,” gave many examples, citing the recent WFP Market Monitor:
Lebanon: The price of wheat flour here from March through May was 50% higher than the previous three months. The year-on-year price rise was 219%.
Syria: The price of cooking oil March through May rose nearly 60% from the prior three months. Cooking oil year-on-year has increased in price by 440%.
Mozambique: The price of cassava March through May shot up by 45% over the prior three month period. Mozambique is among what the WFP calls the “high food price hot spots” in Africa.