Middle East, North Africa Risk Unrest on High Food Prices
(Bloomberg) -- Since the end of 2019, the United Nations’ gauge of food prices has risen by about a third, with the causes of the surge -- bad weather, higher shipping costs, worker shortages, an energy crunch and rising fertilizer costs -- meaning high prices could persist this year. Countries in the Middle East and North Africa such as Sudan, Yemen, Lebanon, Tunisia and Egypt are the most exposed given their imports of wheat and sugar, according to Bloomberg Economics. Some of these are experiencing coups, regime changes, civil war and economic collapse. Higher food prices could compound unrest.
©2022 Bloomberg L.P.