- According to a United Nations report, the cost of the food we consume is about a third of the actual cost, which is i.This includes hidden costs to the environment and human health.
- In Hidden costs or ‘externals’ that are not reflected in the market value of harmful foods make sustainable and healthy food less affordable.
- Also, omission of external costs e. destroysenvironment, exacerbates food insecurity, poses health risks and social evils such as underpaid labor and inequality
What Right price of food?
- o. by the use off Petroleum-based fertilizers and pesticides for the effects of soil erosion, water pollution, climate change and obesity epidemicsIC – to name just a few – our current food system carries a significant number of hidden costs to the natural environment and human health. These costs are in addition to the normal production costs, and are offset by “The right price for the food.”
external aspects of economics
- Estimated current externalities Nearly double the current total global food consumption ($9 trillion) ($19.8 trillion).
- These externalities result in $7 trillion (range 4–11) in environmental costs, $11 trillion in human cost of living (range 3–39) and $1 trillion (range 0.2–1.7) in economic costs.
Source: Down to Earth
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