Global food shortage begins to bite
A global food shortage is a possibility in the near future as increasing populations increase demand, while severe weather conditions in many major producing countries limit supply. Food prices are soaring as a result and it is no surprise to see wheat stocks at 30-year lows.
The issue for the future is that as the population continues to increase land will become scarcer yet demand for food will increase. Thus, the ability to find suitable land for agricultural purposes will decline and the crisis may begin to hit hard.
According to the UN, global food prices have risen by 65% since 2002, with dairy and grain products subject to the greatest rises in recent times. As a result some countries (including Egypt, Argentina, Kazakhstan and China) have already implemented laws that limit grain exports to ensure more product is kept in their country. Thus, the trend of decreasing barriers to international trade may be reversed in the near future which threatens to damage international relations and set back the globalisation movement.