S&P Global have published a report on how the food shock currently being felt all over the world, especially in Africa, is set to last for years and not just months.

Key takeaways:

• Rising food prices and diminishing supplies will last through 2024 and possibly beyond, in
  our view.
• Fertilizer shortages, export controls, disrupted global trade, and escalating fuel and
  transport costs will all exert upward pressure on the cost of staples.
• Our analysis shows low and low-to-middle income countries in Central Asia, the Middle
  East, Africa, and the Caucasus could be worst hit by the first-round impact.
• The food shock will drag on GDP growth, fiscal performance, and social stability, and
  could lead to rating actions, depending on the response by governments and
  international organizations.

Please read the full report here.