00:00The director of the United Nations Agricultural Development Agency stated that rising energy
00:05costs have been affecting small farmers and driving up prices, rising fears of a global
00:10food crisis.
00:12What we are seeing currently is a number of shocks.
00:15One is energy, which obviously translates into fuel but also fertilizers.
00:20We're also seeing some supply shocks coming from the inability of trading, whether it's
00:26because of restrictions in the Black Sea, in the war between Ukraine and Russia, or also
00:32in the Strait of Hormuz or other choke points.
00:35And the reality is that that's also increasing the cost of transportation, the costs of just
00:41producing food by many of these small scale farmers, and as a consequence, what we see
00:45is more a cost of living crisis.
00:47So over the next six, nine months, we will see continued increases related to food prices,
00:55prices, but also I would say even inflation in terms of food, which will impact most of
01:00the populations that actually can afford it less.
01:03What we are seeing globally too is that almost one in three people in the world cannot afford
01:10a healthy diet.
01:11So I think the costs of a healthy diet, which means an increased cost on legumes, on vegetables,
01:18on meat is just having a big impact on what people can afford to consume.
