India, Africa and Europe could face risks of food shortages or rising food prices in 2023, with agro-industrial complex (AIC) markets in several Middle Eastern and North African (MENA), as well as Asian countries, poised to show the highest growth rate, a poll conducted by Russian audit company Technologies of Trust showed on Tuesday.
"Respondents expect the Middle East and North Africa and the Asia-Pacific region to be the leaders in terms of AIC market growth in 2023. The greatest risk of food shortages or food price increases is in Africa, including Egypt, European countries, and India," the poll found.
Between January and May, food prices in Europe increased by 16.6%, with sugar (54.9%), milk (25%) and eggs (22.7%) rising the most, the survey showed.
"The single-serve milk carton is becoming a new reality for the European Union," the researchers said.
June 2023 was the hottest month ever observed in Europe, the poll noted, citing a forecast by the Committee of Professional Agricultural Organisations for a 50-70% reduction in this year's European cereal harvest compared to last year.