Inflation

Poll: Food Shortages, Inflation Are Huge Concerns For Most Shoppers

“Within the next three months, a quarter of a billion people will have less access to food,” said Bayer President Patrick Lockwood-Taylor.
Photograph: Shutterstock

Ninety percent of Americans are concerned about inflation, and with disruptions with supply chains and shortfalls with crop flows, 71% are worried about food shortages, according to a new survey.

The global crisis is being felt around the world, and a new Harris Poll commissioned by Bayer revealed that more than half of Americans (69%) also have concerns about food deserts and the limited availability of nutritious and affordable food.

More than 2,000 adults were polled in June, and asked about their feelings regarding food insecurity during these inflationary times. Of those surveyed, 87% of Americans said they are particularly concerned about the rising cost of groceries, and 76% said they are seeing more empty shelves at grocery stores now than at the beginning of 2022, which concerns them even more.

“Within the next three months, a quarter of a billion people will have less access to food,” said Patrick Lockwood-Taylor, president, Bayer U.S. and president, Consumer Health, North America in a statement. “That is starting to approach starvation conditions. As always, it is the most underserved populations who are at greatest risk.”

Some experts don’t expect supply chains to return to normal until the first half of 2024 or beyond. In a recent survey by New York-based investment bank Carl Marks Advisors conducted from May-June of this year, U.S. supply chain executives across various industries were asked to chime in on supply chain issues. A smaller percentage (22%) said they don’t expect to see improvements until the second half of 2023, while more than half said it would be more like 2024 or longer until things get back to normal.

“This research underscores just how profoundly the pandemic impacted corporate supply chains, but also how economic conditions, rising inflation and global tensions are preventing a return to normal,” said Peter Keogh, managing director of Carl Marks Advisors, in a statement. “In this environment, organizations will need to continue to be nimble, and be especially attentive to inventory levels. In the retail sector, for example, many companies overcompensated for supply chain disruptions by aggressively stocking products, and are now facing an inventory glut. We expect to see other industries struggle to recalibrate over the next year or two.”

Bayer is a global enterprise company that focuses on the life science fields of health care and nutrition. Their vegetable seeds business helps farmers produce crops globally, and allows for maximum production, according to the company. 

“We must all do our part—as individuals and organizations—to help address global food security now," Lockwood-Taylor said. 

 

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