From soil to supermarket shelf, disruptions across the global food supply chain are threatening to undermine the food ecosystem.
Compounded by the war in Ukraine and rising inflation, governments are ramping up protectionist policies that are driving food insecurity in the form of shortages, price hikes and intense competition among major global buyers.
In Asia, the situation remains tense. India has imposed curbs on wheat and sugar shipments, while Malaysia has restricted poultry exports. In April 2022, Indonesia, the world’s top palm oil exporter, halted shipments of crude palm oil only to reverse its decision nearly a month later.
While some countries have adopted a protectionist approach to safeguard food supplies and regulate costs, others are taking the opportunity to grow a stable and sustainable food system.
In New Zealand, decarbonisation efforts, coupled with digital transformation and a robust talent development pipeline, have helped it maintain a resilient and reliable food chain, even as uncertainty swirls in the global agricultural industry.
These were key findings from the Agribusiness Agenda 2022 report by KPMG in New Zealand, which offers learnings on how the nation’s food and fibre sector is successfully navigating a new era of global food security.