What does Wall Street have to do with rising food prices? Amanda Starbuck, Research Director for Food and Water Watch, says that “swaps”, that is, bets on whether the price of food will go up or down, are responsible for 10-25% of food prices: so while the grain stores were full and not in short supply when Russia invaded Ukraine, investors bet that grain prices would rise — and that swap raised the price of grain! Also, unchecked consolidation of groceries (73% in the top 4 companies) provides monopolies for large grocers. Food and Water Watch latest report gives the details in “The Factor of Food Prices: No one is talking about Wall Street“
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