Food companies reap record profits amid hunger crisis

  • 📰 axios
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

As global food insecurity has risen, so have profits at the biggest food-trading companies.

The largest food-trading companies have the status of oligopolies and have become "unregulated financial institutions," according to a blistering 29-pageof the 2023 UNCTAD trade and development report, entitled "Food Commodities, Corporate Profiteering and Crises."

"The profits of four major food traders rise during periods of market volatility and during crises," note the authors.More than 345 million people are facing high levels of food insecurity this year. That's a rise of 200 million people from where we were pre-pandemic. Private companies can't necessarily solve that problem — but their unprecedented profits do seem rather distasteful, all the same.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 302. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&D Oyster Company, through the yearsDallas restaurant, cooking and food news, plus recipes and the best of the Texas food scene.
Source: dallasnews - 🏆 18. / 71 Read more »