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Business 101 is clear: If you can sell only 70%-80% of what you harvest, you have to charge more per item to recover costs. Each player in the food chain is impacted by profit losses and inconsistency in quality.
In a world of increasing demand, that usually means more production. No doubt the last hundred years’ agriculture has made epic strides in the ability to produce food. However, achieving continued increases in production is going to be a big problem in the future due to shrinking resources.
But what if we look at the problem a little differently? According to the UN’s Food Agriculture Organization (FAO) and The International Food Policy Research Institute, they estimate “global food loss of 27% to 32% of all food produced in the world.” “Food losses and waste amount to roughly US $680 billion in industrialized countries plus US $310 billion in developing countries.” That is a lot of economic loss!
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