SINGAPORE: In a recent interview, Minister for Sustainability and the Environment Grace Fu said that less than 1 per cent of the food Singapore imports is from the Middle East. Disruptions to the city-state are expected to be minimal in the near-term, she added in social media posts.
However, the ongoing conflict that began when the United States and Israel started bombing Iran on February 28 is likely to cause food prices to rise. This is, in large part, because of increases in logistics, fuel, and fertilizer costs, which in turn have an effect on farming and global supply chains.
As she wrote, “global food supply chains are connected. We must be prepared for higher energy, shipping and fertiliser costs, which may lead to higher global prices for food over time.”
Aside from the war, she added in her interview to The Straits Times and Lianhe Zaobao that climate change is another key threat to food security and supply stability, but added that Singapore has been diversifying sources, stockpiling, and strengthening local systems and has made climate adaptation a national priority for this year.
Netizens commenting on Ms. Fu’s remarks in her interview said that they’re hardly surprised with the likelihood of food prices rising, with many aware that fertilizers are a by-product of petroleum and that the Middle East conflict is already affecting supply chains.
“Oil = fuel. Fuel = logistics. Logistics = ALL INDUSTRY. You don’t need to be an economist to figure this out,” one pointed out.
