Economics Expert: Iran Conflict Affects Global Food Costs
The Professor of Political Economy at the American University in Cairo warned that the repercussions of the Iranian war have caused an unprecedented shock in energy markets, especially as the war continues and extends in duration. This has led to a shortage of energy exports used in fertilizer production. This shortage is likely to increase agricultural production costs and result in higher global food prices, as the world has not experienced an energy crisis of this magnitude since World War II. The article discusses the impact of this crisis on global food markets, with expectations of rising food prices due to increased production costs.
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