Economics 101 Explains Global Food Affordability Challenge

When I chaired the Senate Appropriations Subcommittee on Agriculture, I spent a lot of time listening to farmers. The concern I heard most often was the rising cost of the things they had to buy just to plant a crop: seed, fuel, equipment, and above all, fertilizer. More than a decade later, farmers are having the same conversation, except today the answers are not found in Washington or Little Rock, but in places like Beijing and the Strait of Hormuz.

 

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