'Disaster capitalism at its worst. As 345 million people suffer from acute food insecurity, the four corporations that control virtually all grain trade, stuff their pockets with cash, pop the champagne corks, and laugh all the way to the bank.'
on the world's four grain giants raking in record profits—which is fueling calls for a global windfall tax.
After noting United Nations agencies' estimates that while about 345 million people endure acute food insecurity—up over 200 million from before the Covid-19 pandemic—food prices have skyrocketed by over 20%, journalist Fiona Harvey highlighted remarks from Olivier De Schutter, a co-chair of the International Panel of Experts on Sustainable Food Systems and U.N. special rapporteur on extreme poverty and human rights.
He said this year's food price surge happened despite what are thought to be abundant global grain reserves, but there was insufficient transparency from the companies to show how much grain they hold and no way to force them to release stocks in a timely way.
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