A price correction that’s more a pause than a halt
Prices of soft commodities that soared due to the pandemic and the Ukraine war have eased, but it would be foolish to hope their relentless rise won’t resume
25 August 2022 - 08:00
Russia’s invasion of corn and wheat exporter Ukraine in February turbocharged the surge in global soft commodity prices that began with the outbreak of Covid in early 2020.
Covid did not constrain the production of soft commodities, but it did throttle the supply chain as global logistics systems were disrupted. As a point of reference for global food price inflation, from a March 2020 baseline the price of corn had risen 168% in April 2022, wheat had soared 348% by the end of February 2022 and soya had doubled by early June 2022. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.