The Food, Fuel and Fertiliser Crisis
Building on the April Situation Report (Watson 2022), this report provides an overview of the Food, Fuel and Fertiliser Crisis for May 2022. The report focuses on a number of key trends in the supply, demand and prices of food, fuel and fertilisers, and provides an initial analysis of the impacts of these trends, especially across sub-Saharan Africa (SSA). The FAO’s Food Price Index remains extremely high leading to fears of an increased humanitarian crisis. Food and fuel inflation are threatening stagflation and recession across the globe. Aside from rice, staple food markets remain tight and prices for wheat, maize and oils remain extremely sensitive to reduced production estimates (linked to climate) and export restrictions. Increasing input costs (especially for fertiliser and fuel) threaten to lower future crop yields.