From the farmers’ field to the grocery store to the food processor, consumers around the world can’t help but notice that the price of food keeps going up. And it’s going to continue for years, according to the United Nations Food and Agriculture Organization.
Global food costs rose in April for the ninth time in 10 months, nearing a record reached in February, according to Bloomberg News. The bottom lines for everybody, from McDonald’s (NYSE: MCD) to a market vendor in a developing country.
Food inflation has caused social instability since ancient times and continues to do so today. For instance, according to the U.N., almost 9 million people in the Horn of Africa need humanitarian assistance as a result of a severe drought, the effects of which are being worsened by high food prices and conflict. More countries are in similar predicaments.