Food Inflation
Causes
- Short-term Shocks: Short-term supply shocks have happened in the past, for example due to bad weather. However, there is mounting evidence of long-term supply issues, such as the loss of agricultural land due to global warming.
- Biofuel Use: There will be an increase in the use of biofuels. Crops are planted for energy rather than for nourishment.
- Growing Demand: India's rapid economic development is boosting demand for additional products that use a lot of resources. As income increases, people tend to spend a larger proportion of it on meat and dairy products. These demand a more aggressive approach to land ....
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