We're living in an era when scarcity continues to aggravate all over the world. Global food supplies are at alarmingly low levels while prices keep reaching new highs with each passing month. Extreme weather events and ravaging natural disasters have been affecting food production all across the planet, and the health crisis has undoubtedly pushed global supply chains over the edge. The situation is incredibly chaotic right now, and every time the supply chain crisis seems to be easing a new disruption emerges to take things back to square one. As a consequence, the UN is warning that the world is currently battling the worst hunger crisis in this century, and conditions are expected to get even worse in 2022. Unfortunately, this tragic crisis is far from ending. For a very long time, experts and economists have been sounding the alarm about global trends that indicated we were heading toward a terrifying global famine, and this is where we are now.
That's why we have been relentlessly stressing the importance of getting prepared for the challenges ahead and sharing the insights of experts that know the food industry from within. Apparently, the Chinese government is already aware that we're on the verge of a massive food crisis and they can see what is coming next. China has always been very concerned about preparing in advance for potential adversities. For that reason, officials have decided that that now is the time to hoard food, energy supplies, and other commodities. In fact, a recent article published by Nikkei Asia revealed that the Chinese government is hoarding food on an unprecedented scale. All over the country, government officials are issuing stockpiling orders for grains and other food supplies. And the amount of food that they are stockpiling right now is simply staggering. New data released by the U.S. Department of Agriculture exposed that China is about to have 69 percent of the globe’s maize reserves by the end of the first half of crop year 2022, as well as 60 percent of its rice, and 51 percent of its wheat.
If things spiral out of control in 2022 or beyond, the Chinese government will have enough food supplies in their reserves for the entire population. Meanwhile, here in America, our government is taking a completely different approach. Once again, our leaders are failing to assess the severity of the problem. In the past, we did have programs in which the U.S. government stockpiled significant amounts of food to ensure supplies in times of crisis, but all of those programs have been terminated in recent years. Our current strategy is to let agricultural surpluses perish and go to waste 'not to disrupt trade flows and prices in the global market' -- which is as insane as it sounds.
Today, all we have are some seeds, a very limited amount of food, water, generators, and other commodities purchased for aid programs that are widely scattered across several distribution centers around the country. That's why we all should start building our own reserves while we still can because it is safe to say that our leaders aren't going to help us get out of a crisis like this. At this point, we can already see that food prices continue to climb higher with each passing day. Food inflation is a serious issue affecting millions of Americans. Over 24 million households reported facing food insecurity this year as prices rose to the highest level in decades.
According to a UN report, global food prices soared more than 30 percent over the past 20 months, the highest ever recorded in nearly four decades. The increase was partly driven by strong demand and worse than expected harvests. As global food supplies get tighter and tighter and production collapses due to supply chain problems and climate change, we have seen supermarkets and grocery stores all around the world struggling to keep their shelves fully stocked throughout this entire year. Don't be caught off guard when hunger crises start to erupt all over the world. The Chinese government is already working hard to prepare for that time, while the U.S. government is letting our economic conditions go from bad to worse. So if you're hoping our leaders will come to our rescue when things go downhill, you're going to be bitterly disappointed. https://www.epiceconomist.com