Pandemic travel ban fuels the rise of global food prices

Farms in advanced economies have been relying on foreign labor. (Source photo by Reuters)

According to the context of the current pandemic, laborers have not been able to migrate to other countries for the harvest season, accounting for the rise in food prices. According to the International Labor Organization and Organization for Economic Cooperation and Development, foreign workers in agriculture amount to 17 million people, which is more than the domestic agricultural population in the advanced economies of 13 million.

In the agriculture sector, employment has declined by 5.4% year-on-year in the July-September 2020 period, marking the biggest plunge in history. Climate change has also had an impact on maturing crops, with the two factors leading the international price index for food to reach a six-year high.

Due to the pandemic ban across the world, employment in agriculture has decreased by 490,000 in the July-September 2020 period. Shortage of labor for harvests caused the key index to surge to six-year high. Decline in the agricultural sector has made the global food price to go up.

Publish : 2021-02-28 12:30:00

Give Your Comments