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Since the beginning of this year, repeated global extreme weather, the rise of food trade protectionism, and the continuous fermentation of the Russia-Ukraine conflict have all impacted the global food system, intensifying the tension between global food supply and demand, and soaring
food and agricultural prices.
A World Bank warns: a strong dollar is expected to strengthen the food and energy crisis
On October 26, the World Bank's latest Commodity Markets Outlook report said currency depreciation in most developing economies is pushing up food and fuel prices, which could exacerbate the food and energy crises
already facing many developing economies.
The dollar surged to a new high
against a basket of currencies last month.
This means that even though the price of dollar-denominated Brent crude fell by almost 6 percent between February and September, more than half of oil-importing emerging markets saw oil prices rise
in their local currency over the same period due to currency depreciation, the World Bank report said.
Moreover, almost all of these countries saw a larger increase in the price of wheat in their own currency than in the United States dollar
.
Rising energy commodities, which are inputs to agricultural production, have been pushing up food prices
.
In the first three quarters of 2022, food price inflation averaged more than 20% in South Asia, and between 12% and 15% in other regions, including Latin America and the Caribbean, the Middle East and North Africa, Sub-Saharan Africa, and Eastern Europe and Central Asia
.
East Asia and the Pacific is the only region with low food price inflation, partly because the price of rice, the region's staple, has remained generally stable
.
Second, the performance of agricultural trade giants is eye-catching
Wall Street Journal on October 26 news, some of the world's largest food companies reported better-than-expected profits and raised their financial forecasts for this year, thanks to crop shortages and global volatility
.
As the four giants of grain trade, the four major grain merchants control 80% of the world's grain trading volume
.
ADM's profit for the fiscal quarter ended September 30 nearly doubled
from a year earlier.
The company reported a profit of $1.
03 billion, up from $526 million in the year-ago quarter, an increase that nearly doubled
.
Bunge also raised its full-year EPS forecast to $13.
50, after reporting better-than-expected
third-quarter profit and revenue.
Excluding one-time items, the company posted adjusted earnings per share of $3.
45, nearly $
1 higher than Wall Street analysts' expectations.
Bunge shares rose sharply by 7%
on Wednesday.
ADM rose more than 2%
for two consecutive sessions.
ADM is one of the world's largest oilseed, corn and wheat processors, with approximately two-thirds of its revenue derived from processing
soybeans, peanuts and other oilseeds.
Bunge is the world's leading oilseed processor and the largest producer and supplier
of fertilizers used by farmers in South America.
Typically, when food shortages, geopolitical conflicts or extreme weather events exacerbate food price volatility, the performance of the Big Four grainers such as ADM, Bunge and privately held Cargill tends to benefit
from higher food prices.
Due to the progress of global food transportation, the trend of global food markets will also be greatly affected
by the four major grain merchants.
Year-to-date, rising global energy prices have pushed up demand
for biofuels produced by oilseed processors.
The Russia-Ukraine conflict has disrupted supplies from one of the world's largest grain exporters, pushing up the price of
wheat and corn.
Bad weather in other major crop producing countries has also squeezed stocks
.
Agricultural executives have said it will take at least two bumper harvest years in North and South America to ease tight food supplies
.
In response, Bunge CEO Greg Heckman pointed out on Wednesday that food supply problems persist
due to factors such as damaged infrastructure, disruptions to trade flows and poor growing conditions in other parts of the world.
;
; Since the beginning of this year, repeated global extreme weather, the rise of food trade protectionism, and the continuous fermentation of the Russia-Ukraine conflict have all impacted the global food system, intensifying the tension between global food supply and demand, and soaring
food and agricultural prices.
A World Bank warns: a strong dollar is expected to strengthen the food and energy crisis
A World Bank warns: a strong dollar is expected to strengthen the food and energy crisis one On October 26, the World Bank's latest Commodity Markets Outlook report said currency depreciation in most developing economies is pushing up food and fuel prices, which could exacerbate the food and energy crises
already facing many developing economies.
already facing many developing economies.
The dollar surged to a new high
against a basket of currencies last month.
This means that even though the price of dollar-denominated Brent crude fell by almost 6 percent between February and September, more than half of oil-importing emerging markets saw oil prices rise
in their local currency over the same period due to currency depreciation, the World Bank report said.
Moreover, almost all of these countries saw a larger increase in the price of wheat in their own currency than in the United States dollar
.
against a basket of currencies last month.
The dollar surged to a new high
against a basket of currencies last month.
A situation in which the price of wheat in the local currency has increased more than the price of wheat in
the United States dollar.
A situation in which the price of wheat in the local currency has increased more than the price of wheat in the United States dollar
Rising energy commodities, which are inputs to agricultural production, have been pushing up food prices
.
In the first three quarters of 2022, food price inflation averaged more than 20% in South Asia, and between 12% and 15% in other regions, including Latin America and the Caribbean, the Middle East and North Africa, Sub-Saharan Africa, and Eastern Europe and Central Asia
.
East Asia and the Pacific is the only region with low food price inflation, partly because the price of rice, the region's staple, has remained generally stable
.
Second, the performance of agricultural trade giants is eye-catching
Second, the performance of agricultural trade giants is eye-catching Wall Street Journal on October 26 news, some of the world's largest food companies reported better-than-expected profits and raised their financial forecasts for this year, thanks to crop shortages and global volatility
.
As the four giants of grain trade, the four major grain merchants control 80% of the world's grain trading volume
.
ADM's profit for the fiscal quarter ended September 30 nearly doubled
from a year earlier.
The company reported a profit of $1.
03 billion, up from $526 million in the year-ago quarter, an increase that nearly doubled
.
Bunge also raised its full-year EPS forecast to $13.
50, after reporting better-than-expected
third-quarter profit and revenue.
Excluding one-time items, the company posted adjusted earnings per share of $3.
45, nearly $
1 higher than Wall Street analysts' expectations.
Bunge shares rose sharply by 7%
on Wednesday.
ADM rose more than 2%
for two consecutive sessions.
ADM is one of the world's largest oilseed, corn and wheat processors, with approximately two-thirds of its revenue derived from processing
soybeans, peanuts and other oilseeds.
Bunge is the world's leading oilseed processor and the largest producer and supplier
of fertilizers used by farmers in South America.
Typically, when food shortages, geopolitical conflicts or extreme weather events exacerbate food price volatility, the performance of the Big Four grainers such as ADM, Bunge and privately held Cargill tends to benefit
from higher food prices.
Due to the progress of global food transportation, the trend of global food markets will also be greatly affected
by the four major grain merchants.
Year-to-date, rising global energy prices have pushed up demand
for biofuels produced by oilseed processors.
The Russia-Ukraine conflict has disrupted supplies from one of the world's largest grain exporters, pushing up the price of
wheat and corn.
Bad weather in other major crop producing countries has also squeezed stocks
.
Agricultural executives have said it will take at least two bumper harvest years in North and South America to ease tight food supplies
.
In response, Bunge CEO Greg Heckman pointed out on Wednesday that food supply problems persist
due to factors such as damaged infrastructure, disruptions to trade flows and poor growing conditions in other parts of the world.
