Higher dry bulk freight rates and grain prices are projected to contribute to an increase in consumer food prices. This increase will differ based on the economy of the affected country. While it is expected that this increase in consumer food prices will amount to 1.2 percent on the global scale, lower middle income countries will suffer the highest hike of all economies—about 1.4 percent. This is partly due to their reliance on bulk shipping for grain imports.
Projected impact of higher dry bulk freight rates and global grain prices on consumer food prices through 2023, by selected country groups
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Low income countries are countries with a gross national income per capita of 1,085 U.S. dollars or less in 2021. Lower middle income countries are countries with a gross national income per capita between 1,086 and 4,255 U.S. dollars in 2021. Upper middle income countries are countries with a gross national income per capita between 4,256 and 13,205 U.S. dollars in 2021. High income countries are countries with a gross national income per capita of 13,206 U.S. dollars or more in 2021.
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UNCTAD. (November 29, 2022). Projected impact of higher dry bulk freight rates and global grain prices on consumer food prices through 2023, by selected country groups [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1348804/impact-of-higher-dry-bulk-freight-rates-global-grain-prices-on-consumer-food-prices/
UNCTAD. "Projected impact of higher dry bulk freight rates and global grain prices on consumer food prices through 2023, by selected country groups." Chart. November 29, 2022. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1348804/impact-of-higher-dry-bulk-freight-rates-global-grain-prices-on-consumer-food-prices/
UNCTAD. (2022). Projected impact of higher dry bulk freight rates and global grain prices on consumer food prices through 2023, by selected country groups. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1348804/impact-of-higher-dry-bulk-freight-rates-global-grain-prices-on-consumer-food-prices/
UNCTAD. "Projected Impact of Higher Dry Bulk Freight Rates and Global Grain Prices on Consumer Food Prices through 2023, by Selected Country Groups." Statista, Statista Inc., 29 Nov 2022, https://www.statista.com/statistics/1348804/impact-of-higher-dry-bulk-freight-rates-global-grain-prices-on-consumer-food-prices/
UNCTAD, Projected impact of higher dry bulk freight rates and global grain prices on consumer food prices through 2023, by selected country groups Statista, https://www.statista.com/statistics/1348804/impact-of-higher-dry-bulk-freight-rates-global-grain-prices-on-consumer-food-prices/ (last visited July 22, 2024)
Projected impact of higher dry bulk freight rates and global grain prices on consumer food prices through 2023, by selected country groups [Graph], UNCTAD, November 29, 2022. [Online]. Available: https://www.statista.com/statistics/1348804/impact-of-higher-dry-bulk-freight-rates-global-grain-prices-on-consumer-food-prices/
