Food Price Hikes Badly Hurting Average Pakistani Consumers
Global food prices are soaring by double digits amid the coronavirus pandemic , according to Bloomberg News. Bloomberg Agriculture Subindex, a measure of key farm goods futures contracts, is up almost 20% since June. It may in part be driven by speculators in the commodities markets . These rapid price rises are hitting the people in Pakistan and the rest of the world hard. In spite of these hikes, Pakistan remains among the least expensive places for food, according recent studies. It is important for Pakistan's federal and provincial governments to rise up to the challenge and relieve the pain inflicted on the average Pakistani consumer. Global Agricultural Futures Contracts. Source: Bloomberg Global Food Prices: Global food prices are increasing at least partly due to several nations buying basic food commodities to boost their strategic reserves in the midst of the pandemic. A Bloomberg News report says that "agricultural commodity buyers from Cai...