Over the past two decades, food prices have risen 2.6 percent a year on average. This catches the attention of everyone as food is an essential in our everyday lives. Without food, to put it simply, we’ll be extinct. The rise in food prices equates to less fortunate people being further away from having a meal, instead of the phrase, “A child dies every 5 second from starvation”, it could be, “5 children die every second from starvation”. This would cause an uproar of upset people, which could then cause riots, strikes and would lead to global unrest. A question is then raised, How did this inflation of food prices occur?
There are many factors which play a part in the inflation of food prices. Here are some of them. Firstly, more people around …show more content…
Due to the oversupply of oil in the recent years, the OPEC, also know as the Organization of Petroleum Exporting Countries, who are in charge of overseeing the world’s oil exports, have reduced supply of oil, to stabilise the costs of oil globally. This leads to increased prices of oil due to the increased demand, causing transport and shipping costs to surge. This surge in price would also reflect in the prices of food as food is shipped around globally, thus imported and exported prices around the world would increase.
Thirdly, there is a shortage of farmers globally. Due to the increased amount of people getting good education and graduating with degrees, more people are employed with better jobs, disregarding farming. People see farming as a bad career, with low wages and no benefits. People in the twenty-first century have become scared of dirty work like farming. As such nobody wants to pursue a career in farming, thus a decrease in the amount of produce. This decrease lowers the food supply, hence increasing its demand, causing food prices to …show more content…
Despite the increase in food prices over the past few years, the global education system is better than in the past, pumping out more educated people, hence a more competitive workforce. Companies then would pay more for those who have prestigious education backgrounds and good grades, hence an influx in the average pay globally. As food prices increase, the average wage also increases, as such, the two will always balance out in the end. To cope with these price changes, everybody has to work extremely hard in school, as in today’s society, there is a very slim chance of making it to the top without a good education background. The government also has to play their role in this and change society’s perspective on careers in the farming industries.
A simpler way to cope with these food price increases is to be a smart shopper. When buying food, buy in bulk items that can be kept for long periods of time. For instance rice. Instead of buying a 500 gram bag of white rice at a time, buy a 5 kilogram sack of rice instead. Use credit cards that give discounts on selected food items, and never skip a chance to snatch up a “buy 1 get 1 free” item. Use smart ways to use up leftovers like making fried rice from leftover rice, or sandwiches from leftover meats. These techniques help cut food costs
There are many factors which play a part in the inflation of food prices. Here are some of them. Firstly, more people around …show more content…
Due to the oversupply of oil in the recent years, the OPEC, also know as the Organization of Petroleum Exporting Countries, who are in charge of overseeing the world’s oil exports, have reduced supply of oil, to stabilise the costs of oil globally. This leads to increased prices of oil due to the increased demand, causing transport and shipping costs to surge. This surge in price would also reflect in the prices of food as food is shipped around globally, thus imported and exported prices around the world would increase.
Thirdly, there is a shortage of farmers globally. Due to the increased amount of people getting good education and graduating with degrees, more people are employed with better jobs, disregarding farming. People see farming as a bad career, with low wages and no benefits. People in the twenty-first century have become scared of dirty work like farming. As such nobody wants to pursue a career in farming, thus a decrease in the amount of produce. This decrease lowers the food supply, hence increasing its demand, causing food prices to …show more content…
Despite the increase in food prices over the past few years, the global education system is better than in the past, pumping out more educated people, hence a more competitive workforce. Companies then would pay more for those who have prestigious education backgrounds and good grades, hence an influx in the average pay globally. As food prices increase, the average wage also increases, as such, the two will always balance out in the end. To cope with these price changes, everybody has to work extremely hard in school, as in today’s society, there is a very slim chance of making it to the top without a good education background. The government also has to play their role in this and change society’s perspective on careers in the farming industries.
A simpler way to cope with these food price increases is to be a smart shopper. When buying food, buy in bulk items that can be kept for long periods of time. For instance rice. Instead of buying a 500 gram bag of white rice at a time, buy a 5 kilogram sack of rice instead. Use credit cards that give discounts on selected food items, and never skip a chance to snatch up a “buy 1 get 1 free” item. Use smart ways to use up leftovers like making fried rice from leftover rice, or sandwiches from leftover meats. These techniques help cut food costs