Food Crisis and Related Risk Factors

Japan faced a rice shortage during the summer of 2024, sparking confusion among consumers as supermarket shelves emptied. While low stock levels of rice and tight supply before the October harvest are normal, several factors combined to exacerbate this crisis. Total rice production was normal in 2023, but unseasonable weather reduced the ratio of high-quality rice in overall output.

Spiking food prices have made headlines around the world this year, from eggs in the US to vegetables in India.

The UN Food and Agriculture Organization’s Food Price Index has been slowly increasing over the past six months following declines over much of 2023.

For example, the price of orange juice concentrate in the US was 42% higher in April than it was a year ago, while the price of fresh orange juice in the UK has risen 25% over the last year.

In Greece, the price of olive oil rose by nearly 30% over 2023 and by more than 63% in April of this year. 

Recent shocks from the COVID-19 pandemic to the ongoing Russia-Ukraine war have disrupted global food and fertilizer supply chains—causing price spikes and increased price volatility—a disastrous combination for many vulnerable consumers around the world.

Around 59.8 million or nearly one-third of the analyzed population across five countries in Asia (Afghanistan, Bangladesh, Myanmar, Pakistan, and Sri Lanka) faced acute food insecurity in 2023 due to economic crises, conflict/insecurity, weather extremes and natural disasters, according to the  2024 Global Report on Food Crisis (GRFC). Economic shocks were the primary driver of acute food insecurity in Afghanistan, Bangladesh, and Sri Lanka in 2023, while weather extremes and conflict/insecurity were the primary drivers in Pakistan and Myanmar, respectively.