Whether you blame a bad crop or bad monetary policy, food inflation is here.
Nomura produced a research report detailing the countries that would be crushed in a food crisis. One, Tunisia, has already seen its government overthrown.
Their description of a food crisis is a prolonged price spike. They calculate the states that have the most to lose by a formula including:
- Nominal GDP per capita in USD at market exchange rates.
- The share of food in total household consumption.
- Net food exports as a percentage of GDP.
We've got the top 25 countries in danger here and the list, including a major financial center, may surprise you.