Olam International: Demand-Supply imbalance, food price inflation

The world is currently facing a huge challenge with development. Just as the world is experiencing a shortage in food supply, there is also inflation in food prices. The causes of this problem include an increasing population, urbanization, a higher demand for biofuels, and climate change. Mr Sunny Verghese, Group MD, Olam International commented that food price inflation is no longer a cyclical issue but a result of an imbalance of demand and supply. He was at SMU to deliver a keynote speech on the theme “Food Price Inflation: Cyclical or Structural”.