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The good news? The world’s producing enough food to feed everyone. The bad news? Getting it to hungry people is more expensive.
More people are going out to eat, but some are frustrated with the rising cost. Yet the cost crunch is just as bad, or worse, for restaurant owners.
With flavors like barbecue, cornbread and banana pudding, Phillip Ashley Rix found an unfilled niche in the luxury chocolate world.
In part, that’s because restaurants don’t want to scare away customers.
Grocery prices are up more than 12% over the past year. Climate change, the war in Ukraine and energy costs all have something to do with it.
One company will focus on snacks, another breakfast cereals and a third will explore the new sector of plant-based foods.
“There are a lot of empty fields that aren’t being planted — something I’ve never seen before,” say Terranova Ranch’s Don Cameron.
Wheat prices could increase more than 40% and energy more than 50% this year, according to the bank’s president, David Malpass.
Schools provide meals to millions of kids each day, and they’re closely watching food inflation.
The United Nations’ index of global food prices rose 12.6% in March, increasing the risk of hunger in the developing world.