Rising Food Prices Could Create Opportunities in Ag Tech

By Benzinga

As we enter a new year, the continued steep rise in food prices has shaken consumer confidence and had ripple effects in decreased spending across the economy, writes David Willey at Benzinga. While the recent Consumer Price Index (CPI) report reveals that inflation is finally slowing, consumers have still had to pay a hefty price tag for food items – which have seen a 10.6% price increase from last year.

There is hope, however, that as the growing and harvesting season in the northern hemisphere ends with the onset of winter, the pressures from the Ukrainian supply-chain disruption will abate. As the focus now shifts to food production in the southern hemisphere, agricultural technology (AgTech) companies will have the opportunity to find solutions to increase southern hemisphere food production.

The AgTech industry, which looks to make crop growth and development more efficient, is currently worth over $18 billion. Some companies involved in seeking opportunities in the AgTech space include FMC Corp., Tyson Foods Inc., and AgriFORCE Growing Systems Ltd.

In particular, AgriFORCE is developing AgTech innovations and building out a robust intellectual property (IP) portfolio to creatively solve industry problems. As we enter a new year, the company can look back on how it has advanced its ambitious vision through its multiple initiatives.