Food Wars Loom as Nations Hoard Supplies, Warns Agricultural Trader

Sunny Verghese, CEO of Olam Agri, warned that the world is on the brink of “food wars” due to geopolitical tensions and climate change, which are straining food supplies. Speaking at a recent conference, Verghese highlighted that government-imposed trade barriers, intended to protect domestic food stocks, have exacerbated food inflation. He noted that the proliferation of non-tariff trade barriers in response to the Ukraine war has created an exaggerated demand-supply imbalance, driving up prices. Wealthier nations stockpiling strategic commodities have further intensified this issue, leading to higher global food prices and deepening food insecurity, especially in poorer countries.