All articles tagged with #global shortage
Copper prices are on track for their largest annual increase in over 15 years, driven by fears of global shortages, increased demand from renewable energy sectors, and supply disruptions due to mining accidents, with prices surpassing $12,000 a tonne.
Hershey, the largest chocolate maker in the US, announced a low double-digit price increase on its products due to a 73% rise in cocoa costs driven by a global shortage caused by unfavorable weather and lack of investment, with the change taking effect in the coming weeks.
A global shortage of oranges, driven by drought, disease, and high demand, has caused prices to skyrocket, prompting orange juice manufacturers to consider alternative fruits like mandarins. The shortage is exacerbated by declining output in Florida and Brazil, with Brazil facing one of its worst orange harvests in over three decades due to citrus greening disease and extreme weather.
Oil prices surged above $90 a barrel due to military tensions and global supply shocks, including Mexico's cut in crude exports, US refiners consuming more domestic barrels, stranded Russian cargoes, potential Venezuelan supply disruptions, and Houthi rebel attacks delaying crude shipments. Despite the turmoil, OPEC and its allies are maintaining production cuts, intensifying fears of a commodity-driven inflation resurgence and raising the possibility of oil prices reaching $100 this summer.
According to a report by Unesco, the world needs an additional 44 million teachers to provide education for every child. The report highlights a global shortage of teachers, with 9% of primary school teachers leaving the profession in 2022, double the rate in 2015. While the shortage has been reduced from 69 million in 2016, sub-Saharan Africa still accounts for a third of the global teacher shortage, needing 15 million teachers to meet the goal of universal primary and secondary education by 2030. The report also identifies challenges faced by teachers globally, including high stress levels, lack of supplies, poor leadership, and low salaries. In regions affected by insecurity, such as parts of Africa, school closures further exacerbate the education crisis.
The production of the upcoming "Barbie" movie required so much pink paint that it led to a global shortage, according to its production designer. The set involved huge amounts of Rosco's fluorescent pink paint, and the color was all-important to the movie. The London-based team ordered a Barbie "Dreamhouse" online to spark their imaginations, and they took further inspiration from Palm Springs mid-century modernism. The shortage was due to global supply chain issues, but the paint company delivered everything they could.