Food & Agriculture Shock

Dated events

1. April 23, 2008 · Rice futures hit a record as exporters curb sales and US clubs ration rice
   Rice prices hit an all-time high after India, Vietnam, and other major producers restricted exports to protect their own food supplies, while panicked importing countries rushed to secure whatever rice they could find. This mattered because rice is the daily staple for billions of people, and the sudden shortage raised fears of hunger and political unrest in poorer nations. Food riots broke out in Haiti, Egypt, and several other countries, and governments scrambled to arrange emergency food aid.
2. Aug. 5, 2010 · Putin announces a Russian grain export ban after severe drought and wildfires
   Russia announced a total ban on wheat exports after the worst drought in over a century destroyed roughly 20% of its grain crop. Because Russia was one of the world's biggest wheat sellers, buyers everywhere worried there would not be enough grain to go around, and wheat prices jumped sharply on global markets. Food companies faced higher costs for months, and several other countries began stockpiling grain, pushing prices even higher into early 2011.
3. July 19, 2012 · Corn and soybean futures hit records as worst US drought since 1956 spreads
   Corn and soybean prices hit record highs as the worst US drought since 1956 withered crops across the Midwest, and the US Department of Agriculture had already declared more than 1,000 counties disaster areas. Since the US grows a huge share of the world's corn, food makers and livestock farmers feared a spike in the cost of ingredients and animal feed. Grocery prices rose steadily over the following months as the damage to crops became clear.
4. Oct. 8, 2021 · North American fertilizer price index hits a record, passing its 2008 peak
   Natural-gas shortages in Europe and export restrictions from China drove fertilizer prices to their highest levels ever recorded, raising alarms about the next planting season. Farmers everywhere faced the choice of paying far more for fertilizer or using less of it and risking smaller harvests, which meant food could get even more expensive. Over the following months, higher input costs fed through to grocery shelves, contributing to the broad rise in food prices seen in 2022.
5. May 13, 2022 · India prohibits wheat exports after a heatwave cuts its harvest
   India, the world's second-largest wheat producer, suddenly banned almost all wheat exports after a record-breaking heatwave shriveled its crop just when the world was already short of grain due to the Russia-Ukraine war. Importers who had been counting on Indian wheat to replace lost Ukrainian supplies were left scrambling, and global wheat prices spiked again. The ban added to a broader food-price crisis that pushed grocery bills higher worldwide through the summer.

Assets named in this scenario · 24

Ahold DelhaizeArcher Daniels MidlandAssociated British FoodsCoca-Cola Company (The)Cocoa · Cocoa FuturesCostcoDanoneDavide CampariDiageoGeneral MillsHeineken N.V.Japan TobaccoKraft HeinzKrogerMondelez InternationalNestléPepsiCoPernod RicardProcter & GambleSPDR S&P 500 ETF TrustTescoTyson FoodsUnileverWalmart

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