Consumption of Food Products

Over the years, the demand and supply of food has increased and decreased on varying degrees. Factors for the observed changes mostly impacted on food prices and volatility, population growth, climate, technological factors, tastes and preferences of consumers, and economic capabilities as well.

The two main determinants of food prices depend on the supply and demand in the market. Supply refers to the quantity of food which are made available to consumers at any time of the day. Whereas, demand refers to the quantity of food where consumers buy it from producers at certain market prices.

Increase of Food Demand

Globally, there is recognition of the rise of food products. Reasons include cost of production, decline of major world economies, rising prices of energy and stringent policies that govern import and export of food products. It depends on the number of consumers which would in turn increase the demand for products in the market.

As the pandemic continues to accelerate in most countries, it has started to stress on the global food supply. In fact such a protracted pandemic crisis could put a strain on the food supply, complex interactions involving farmers, agricultural imports, processing plants, shipping, retailers and more.

Consumers tend to have different tastes and preferences to determine the type of products supplied by produces. As such, many people have chosen to embrace vegetarianism and increased  demands for vegetables and fruits. In order to fulfill the needs of these consumers, products and supply are increased.

Conclusion

Many factors which include food prices, climate, consumer preferences, attitudes, production cost and dietary preferences are mainly responsible for the changing trends in food supply and demand.