Why does global demand for more foods affect the price of corn and soybeans

Question

Raymond Reynolds

Social Studies

11 January, 21:19

Why does global demand for more foods affect the price of corn and soybeans

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Answers (1)

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Susan Jarvis · Answer 1

It is expected that the food demand will increase from 59% to 98% within the year 2050.

Explanation:

Due to climate change, urbanization as well as due to fall in investment the production process will fall but globally there will be huge demand for food. As a result the prices of the food (corn as well as soyabeans) will increase.

When there is more supply and less demand of the product, that leads to fall in price of the product but on the other hand when there is less supply and more demand the price of the product will increase. So certain steps should be taken so that such scenario does not occur. There should be increase in production of crops so that during high demand the situation can be handled.