Ag trade expert watching consumer reactions to food inflation following attack on Ukraine

Following Russia’s invasion of Ukraine, a former Chief Ag Negotiator for the US Trade Representative is keeping a close eye on food inflation and consumer reactions around the globe.

“I’m watching China very closely because they are the biggest player on the block in agriculture these days across the board.”

Gregg Doud now serves as the Vice President of Global Situational Awareness for Aimpoint Research. He tells Brownfield 4th quarter GDP in China was only 4% compared to their usual 7-8% and he’s interested to see how consumers react to global food inflation.

“Are these Chinese consumers going to be able to hang in there with their disposable income to purchase food with these high commodity prices.”

He says the US saw record ag exports last year and maintaining that momentum relies heavily on global demand.

“So, we have got to watch and see amongst the middle-class consumers globally, with food inflation and these higher prices can they hang in there? That is the telltale sign we are watching.”

Doud joined Brownfield Friday for a virtual conversation on potential impacts to US agriculture stemming from Russia’s invasion of Ukraine. Click here to view.

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