![Food Prices Likely to Drop Next Year](http://townsquare.media/site/1144/files/2020/04/neonbrand-9m2RZvHS_cU-unsplash-scaled.jpg?w=980&q=75)
Food Prices Likely to Drop Next Year
Cargill’s CEO said he expects food prices to decline in 2023. Yahoo said that’s despite tight global crop stockpiles, especially in oilseeds. David MacLennan, Cargill CEO, said the solution to the food versus fuel debate is to boost global crop commodity production.
“We don’t think it’s going to be an either-or dynamic,” he said. “It can be food and fuel.”
MacLennan also said regenerative agricultural practices, greater yields, and more use of technology can increase output so it can meet the demand from both food and fuel sectors.
World food prices hit a record in March after Russia invaded Ukraine and prevented exports from one of the world’s top grain producers. Prices did drop after the United Nations helped reach a grain deal that allowed ships filled with Ukrainian grain to pass unimpeded through the Black Sea.
“Food shouldn’t be a weapon,” MacLellan added. “The world depends on an interconnected food system.”
If you have a story idea for the PNW Ag Network, call (509) 547-9791, or e-mail glenn.vaagen@townsquaremedia.com
More From 610 KONA
![Rep. Newhouse Takes Aim at Farmland Purchases by Foreign Entities](http://townsquare.media/site/1130/files/2023/06/attachment-newhouse-farmland-amendment.jpg?w=980&q=75)
![Oil Prices Increase As Diesel Prices Continue To Slide](http://townsquare.media/site/1144/files/2020/03/Diesel-Pump-13.jpg?w=980&q=75)
![DeHaan: Oil Community Watching The U.S. Economy](http://townsquare.media/site/1144/files/2020/03/Diesel-Pump-13.jpg?w=980&q=75)
![Food Prices Drop for 11th Straight Month](http://townsquare.media/site/1144/files/2020/04/nathalia-rosa-rWMIbqmOxrY-unsplash-scaled.jpg?w=980&q=75)
![Food-at-Home Price to Increase Almost 9%](http://townsquare.media/site/1144/files/2020/05/alyson-mcphee-yWG-ndhxvqY-unsplash-scaled.jpg?w=980&q=75)
![Washington Farm Economy Looks Good For The Year Head](http://townsquare.media/site/1144/files/2021/06/Farm-Stock-40-with-Bales.jpg?w=980&q=75)
![Schoesler: Many Lawmakers Have A Deaf Ear To Issues Farmers Face](http://townsquare.media/site/1144/files/2020/03/Capital-Olympia-2.jpg?w=980&q=75)
![Oil Prices Are Moving Lower, But The Reason May Surprise You](http://townsquare.media/site/1144/files/2020/03/Diesel-Pump-1.jpg?w=980&q=75)
![DeHaan: Oil Prices Expected To Climb On News Of Russian Cuts](http://townsquare.media/site/1144/files/2020/03/Diesel-Pump-13.jpg?w=980&q=75)