Report: “Food prices remain high in 2022”

According to Rabobank, a grim combination of inflationary pressures will keep grocery prices up this year – even with prices already sitting at 10-year highs. The bank expects that weather conditions would continue to hamper key grower countries in the Americas and Australasia, prolonging ongoing food inflation caused by increasingly expensive fertilisers, labour and shipping. Upward pressure on global food prices, fuelled by a perfect storm of unpredictable weather, rising consumer inflation, and an energy and labour crisis, is unlikely to let up anytime soon, says the bank. Therefore, prices would not fall back to pre-pandemic levels in 2022.