2024 Supermarket Insights: Food Shortages to Expect this Year (2024)

FAQs

What foods are going to be in short supply in 2024? ›

We're expecting even more trouble with not having enough food in 2024 because of things like climate change and problems in different areas. Many of the products Britons use could be affected by floods and droughts caused by the climate crisis.

Because of this widespread drought, a whopping 75% of the country's wheat crops are currently being grown in drought conditions, according to the USDA. This means that huge portions of American wheat crops are dying, and those that are surviving the heat are often inedible or low-quality.

The rate of food inflation for food at home is expected to slow as the year goes on, but prices in most categories will still rise. The U.S. Department of Agriculture has released its forecast for 2024 that shows all food prices are expected to increase 2.5% while food-at-home prices are predicted to go up 1.6%.

Bread now costs over $2 per pound — $2.03, to be exact, as of January. Last January, the same pound cost just $1.89 for a year-over-year increase of 7.7%. A standard loaf of sliced white bread weighs 20oz, which means a loaf costs about $2.54, so $20 can buy you just shy of eight loaves.

Chicken: Rising feed costs, increased regulations, and the looming threat of avian flu present challenges for chicken production. Independent grocers should be prepared for potential shortages in chicken supplies.

As we move through 2024, economic, environmental, and geopolitical factors will continue to have knock-on effects to the food supply chain, resulting in cargo theft, agricultural challenges, and increased food insecurity at any point down the line.

"As there may be a global supply shortfall in 2024 due to reduced production by major producing countries, pepper prices are expected to be on an uptrend, rising gradually from the second half of the year (after the release of Vietnam's new crop into the market in first half of the year)," Yii said.

Climate change is making the problem worse. An index of major crops has wiped out its 2024 loss as bad weather stokes worries about harvests from wheat to coffee, reviving concerns about rising food prices.

How long will the world's food supply last? ›

The world population could be too big to feed itself by 2050. By then, there will be almost 10 billion people on the planet and food demand will have increased by 70 percent compared to 2017. Scientists put the limit on how many people Earth can feed at 10 billion - max!

Plan food supplies so at least one well-balanced meal could be eaten each day. One way to develop a two-week emergency supply is to increase the amount of basic foods you normally keep on your shelves.

Every American should have at least a three-day supply of food and water stored in their home, with at least one gallon of water per person per day. If you have the space, experts recommend a week's supply of food and water. Choose foods that don't require refrigeration and are not high in salt.

The USDA forecasts that global rice production for 2023/24 will exceed 2022/23 by only 0.1% (583,000 metric tons). Thus, the El Nino conditions are poised to further tighten global rice supplies in these major exporting countries.

This decrease is mainly attributed to lower prices for grains, oils, and meals, while other foods are expected to see price gains in 2024. However, 2025 is projected to bring broad-based declines in food prices.