Aug 02

El Niño raises concerns of soaring food prices

Food prices are expected to soar due to threatening weather conditions that will likely negatively impact agricultural production, further exacerbated by the high importation of products. According to Simonis Storm’s latest agricultural monthly report, the upcoming El Niño cycle, predicted to be the costliest globally, poses a heightened risk of stagflation, characterized by low growth and high inflation, exacerbating the food crisis.