The need for divesifiaction in imports

Topic: International Trade 

What is in it for you: Of the 6,000 plant species humans have eaten over time, the world now mostly eats nine, of which just three — rice, wheat, and maize — provide 50% of all calories. The cheaper the food gets, and the lower the imports from the government, the dependence on the above-mentioned crops rises and given with it the dependence on a few select countries. In addition to that, people now have diets with more fats and carbohydrates, and fewer nutrients. 

Effects: 

The UN estimates soaring costs will push 71 million people globally below the poverty line. Global crop yields could fall about 30% because of climate change, while food demand is expected to jump 50% in the coming decades, according to United Nations estimates.


New opportunities and Future insights: It will be a long road for any of these initiatives to make a notable difference against the trend for homogenization the industrialized supply chain promotes. Both the current and potential future disruptions have sparked a new interest in traditional crops such as sorghum, rye, cassava, fonio, sweet potato, and yam which have been marginalized as diets shifted to alternative staples. Lesser-known crops like finger millet and grass pea can be reliable food sources in times of drought and crop failure.

Sources:

Bloomberg Outtake

Research on the homogeneity of diets across the globe

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