Concept
Food prices
Related concepts (20)
Western pattern diet
The Western pattern diet is a modern dietary pattern that is generally characterized by high intakes of pre-packaged foods, refined grains, red meat, processed meat, high-sugar drinks, candy and sweets, fried foods, industrially produced animal products, butter and other high-fat dairy products, eggs, potatoes, corn (and high-fructose corn syrup), and low intakes of fruits, vegetables, whole grains, pasture-raised animal products, fish, nuts, and seeds.
2007–2008 world food price crisis
The world food price crisis refers to a period of time when the cost of food increased significantly and had a profound impact on the availability and affordability of food for people around the world. This crisis is often characterized by sharp spikes in the prices of key staple foods such as wheat, rice, and corn, as well as other agricultural commodities such as sugar and oil. The causes of the world food price crisis are complex and multifaceted, but they generally involve a combination of factors including droughts and other weather-related events, increased demand for biofuels, trade policies, and financial speculation.
Food system
The term food system describes the interconnected systems and processes that influence nutrition, food, health, community development, and agriculture. A food system includes all processes and infrastructure involved in feeding a population: growing, harvesting, processing, packaging, transporting, marketing, consumption, distribution, and disposal of food and food-related items. It also includes the inputs needed and outputs generated at each of these steps.
2010–2012 world food price crisis
Following the 2007–2008 world food price crisis and a short lull in high prices during 2009, food prices around the world again started to rise in 2010. To reduce the volatility of food markets and increase market transparency, several measures were considered at the G20 summit in 2010. One of the outcomes was the establishment of the Agricultural Market Information System (AMIS) in 2011. In April 2011, the World Bank warned that the global economy was "one shock away" from an impending full-scale food price crisis.
Food speculation
Food speculation refers to the buying and selling of futures contracts by traders with the aim of profiting from changes in food prices. Food speculation can be both positive and negative for food producers and buyers. It is betting on food prices (unregulated) financial markets. Food speculation by global players like banks, hedge funds or pension funds is alleged to cause price swings in staple foods such as wheat, maize and soy – even though too large price swings in an idealized economy are theoretically ruled out: Adam Smith in 1776 reasoned that the only way to make money from commodities trading is by buying low and selling high, which has the effect of smoothing out price swings and mitigating shortages.
Geography of food
The geography of food is a field of human geography. It focuses on patterns of food production and consumption on the local to global scale. Tracing these complex patterns helps geographers understand the unequal relationships between developed and developing countries in relation to the innovation, production, transportation, retail and consumption of food. It is also a topic that is becoming increasingly charged in the public eye. The movement to reconnect the 'space' and 'place' in the food system is growing, spearheaded by the research of geographers.
Food bank
A food bank is a non-profit, charitable organization that distributes food to those who have difficulty purchasing enough to avoid hunger, usually through intermediaries like food pantries and soup kitchens. Some food banks distribute food directly with their food pantries. St. Mary's Food Bank was the world's first food bank, established in the US in 1967. Since then, many thousands have been set up all over the world.
Agricultural economics
Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products. Agricultural economics began as a branch of economics that specifically dealt with land usage. It focused on maximizing the crop yield while maintaining a good soil ecosystem. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader.
Price of oil
The price of oil, or the oil price, generally refers to the spot price of a barrel () of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus, and Western Canadian Select (WCS). Oil prices are determined by global supply and demand, rather than any country's domestic production level. The global price of crude oil was relatively consistent in the nineteenth century and early twentieth century.
Food loss and waste
Food loss and waste is food that is not eaten. The causes of food waste or loss are numerous and occur throughout the food system, during production, processing, distribution, retail and food service sales, and consumption. Overall, about one-third of the world's food is thrown away. A 2021 meta-analysis that did not include food lost during production, by the United Nations Environment Programme found that food waste was a challenge in all countries at all levels of economic development.