The events of the past two years have placed extraordinary stresses on food supply chains around the world. According to the Organisation for Economic Co-operation and Development, there were bottlenecks in farm labour, processing, transport and logistics, as well as shifts in consumer demand. To minimise the impact of these disruptions, however, policymakers and those in the food industry quickly responded to the circumstances and the world managed to avert a global food crisis.
Nonetheless, the pandemic might have pushed up to 132 million additional people into chronic hunger and the number of undernourished may have increased to as many as 811 million people in 2020, according to the UN's Food and Agriculture Organisation (FAO), a number which is a staggering 10.4 per cent of the world's population. The FAO cite the devastating effects of the pandemic on jobs and income, especially in developing countries, as one of the main drivers for this increase.
This is a deeply concerning trend. But couple this with the risks posed by climate change and its impacts on the agriculture sector – for which we are still woefully underprepared, according to a recent report by the Stockholm Environment Institute – the resulting impact on livelihoods, food prices and global food security could be extremely severe.
14 per cent of all food globally is lost along the supply chain before it even reaches the consumer
Global investment firms, like Investcorp, must be a part of the solution to avoid wide-scale global food insecurity. This can be achieved by deploying capital to support innovative farming techniques, technological innovation in food production, deeper supply-chain integration and widespread adoption of digital technologies and platforms. These will be key to providing food security and sustainability across the GCC region.
FreshToHome, an Investcorp portfolio company, and one of the world’s largest fully integrated fresh fish and meat e-groceries – with fast expanding farming, supply chain and processing capabilities in Abu Dhabi – is an impressive example of how the use of cutting-edge technologies is furthering the availability, access, and quality of food in a sustainable manner in India and across the GCC.
Approximately 14 per cent of all food globally is lost along the supply chain before it even reaches the consumer. According to the FAO, reducing food loss and waste is therefore critical to improving the food security situation of vulnerable groups all over the world.
By investing heavily to build a large cold chain infrastructure operation in India, FreshToHome has cut out several layers of middlemen to source directly from local farmers and fishermen from more than 125 harbours, reducing what was a multi-day supply chain to less than 36 hours, and resulting in a waste yield of only 1.5 per cent, approximately ten times lower than the global average.
Furthermore, by leveraging predictive planning and precision agriculture and aquaculture technologies to optimise supply and demand more accurately, the company is not only able to reduce food loss, but also ensure that fishermen and farmers gain higher utilisation of their harvests and therefore receive higher incomes.
Through its extensive online presence across more than 80 cities in India and the GCC, and an increasing number of “offline” stores, the company can ensure the continuous availability of fresh food, with higher nutritional value, to greater numbers of people.
While the world may have demonstrated successes in global co-ordination in response to successive lockdowns and movement restrictions, such ventures can serve as an example of the sorts of companies that together could mean the difference between life and death for millions of people globally.
It is incumbent upon investors to recognise the contribution that such companies can make to local economic development, better livelihoods, and to the resiliency of both regional and global food systems.
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
