‘Perfect storm’: Food council warns oil crisis will drive up cost of Australian groceries

The Australian Food and Grocery Council warns that a "perfect storm" of global conflict and rising oil prices is threatening the nation's supply chain stability.

Key Points

• Shipping traffic through the Strait of Hormuz has plunged by 90% since February.
• Crude oil price hikes are driving up the cost of packaging and essential food commodities.
• Manufacturers can no longer absorb rising production costs without impacting consumer prices.

LISTEN TO

Australia Food and Grocery Council nagbabala sa patuloy na pagtaas ng presyo ng mga pangunahing bilihin sa gitna ng krisis sa langis

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