The Shortages Are Going To Get Worse Later This Year As Global Supply Chains Increasingly Falter

Meishan, a key terminal at China’s Ningbo-Zhoushan port, closed indefinitely Wednesday after a 34-year old worker tested positive for Covid-19. A member of the board of the Ningbo Port Group Company—which operates the port—also resigned Wednesday, citing personal reasons, reported China’s Securities Daily.

As inventories get tighter and tighter, prices are rising to compensate.  One area that I am particularly interested in is the price of food.  According to the FAO, the global price of food is 31 percent higher than it was a year ago…

Whether at supermarkets, corner stores, or open-air markets, prices for food have been surging in much of the world, forcing families to make tough decisions about their diets. Meat is often the first to go, ceding space to less expensive proteins such as dairy, eggs, or beans. In some households, a glass of milk has become a luxury reserved only for children; fresh fruit, once deemed a necessity, is now a treat.

Economic Collapse The Shortages Are Going To Get Worse Later This Year As Global Supply Chains Increasingly Falter