So, why are food costs growing and will they go down in the future?

 These days, food costs are soaring in nations all over the globe. The export of food grains and fertilizers has been impacted by climate change, heat, drought, and flooding, as well as the continuing conflict in Ukraine during the last several weeks, all of which have a negative impact on the ordinary people's finances. According to experts, if food prices continue to climb at this rate, a number of issues may occur.

Food costs reached a 14-year high.

According to the International Panel of Experts on Sustainable Food Systems (IPES), the price of cereals in March reached its highest level in fourteen years, while the price of maize reached its all-time high. According to the research, climate change, widespread poverty, and armed conflict today pose a severe danger to global food security. If appropriate measures are not implemented, exorbitant prices may become the norm.

Why have food costs increased so drastically?

War has halted grain shipments from Russia and Ukraine, which account for 30 percent of world exports. Due to the cessation of shipments from these nations, foodgrain prices have soared. This circumstance is causing great difficulty for low-income and import-reliant nations. Africa imports around 40 percent of its food grains from Ukraine and Russia, and the situation across the continent has recently deteriorated dramatically.

Governments have not taken sufficient action.

After the food price crises of 2007-2008 and 2011-2012, according to Jennifer Klepp, an expert on food safety at The University of Waterloo in Canada, governments have failed to take the essential measures to bring openness to the food storage and commodities market. He said that if the world wants more stable food prices in the midst of the climate catastrophe, wars, and other challenges, then this issue must be tackled promptly.

Can't more grains be cultivated to boost supply?

Countries that produce grains have said that they are prepared to cultivate additional food, although this effort has also been impacted by the conflict. Approximately forty percent of the world's need for potash is met by Russia and Belarus, but the conflict has had a negative impact and several nations are experiencing a fertilizer shortage. India has discussed raising its export of food grains, but its output has also been hampered by the heat.

What further obstacles are ahead?

As a result of climate change, natural calamities such as unexpected rainfall, droughts, and floods make it harder for farmers to cultivate crops. Experts fear that increased carbon emissions will exacerbate this situation. In addition, there is little area available for the cultivation of wheat, rice, and other crops. In order to develop cropland in nations like Brazil, woods have to be chopped down, which is a significant environmental loss.

What can be done to maintain price stability?

French agricultural specialist Pierre-Marie Aubert said that the majority of grain is used to feed livestock. In such a scenario, if individuals limit their consumption of meat and dairy items, the grain supply may be increased. In addition, analysts assert that this issue may be mitigated in part by assisting import-dependent nations in cultivating grains.

What if price increases persist?

If food costs continue to climb on the global market, it will be difficult for humanitarian relief organizations in conflict-affected nations to purchase food grains. "According to a representative of the United Nations World Food Programme, these institutions are already under strain as a result of rising demand and diminishing financing, and it will now be more difficult for them to purchase costly food grains. This is the first time such a challenging circumstance has occurred.

What could possibly be worse?

If food costs continue to increase at this rate, governments' coffers will be emptied, and political unrest may ensue in certain nations. This might have implications for climate change mitigation measures. According to several analysts, the prolonged conflict in Ukraine might permanently alter food prices. It will be difficult for individuals to locate inexpensive and readily accessible food.

People in India are also concerned about growing inflation.

In India, like in other nations, the inflation rate is causing people's wallets to expand. In March, the country's inflation rate reached 6.95 percent, the highest level in the previous 17 months. Vegetables, milk, meats, and grains are among the food and fuel commodities whose costs have risen, contributing to the increase in inflation. The price of food goods increased the most, and the inflation rate was 7.68%.

Which food item had the greatest price increase?

The increase in food costs was mostly attributable to the rise in oil and fat prices. In March, the inflation rate for both countries was 18.79%. The cost of produce climbed by 11.64 percent. Meat and fish costs grew by 9.63 percent, while the price of spices jumped by 8.50 percent. The cost of non-alcoholic drinks increased by 5.62 percent, while the cost of milk increased by 4.71 percent. The cost of grains and their derivatives increased by 4.93 percent.