With better food preservation and factories that are more precise along with more upgrades to the global supply line we could even eliminate poverty with the food that is wasted.
It is estimated that 1.3 billion metric tons of food are lost or wasted annually, translating to a financial loss of $1 trillion (USD) per year. And without significant changes, this problem is expected to grow to 2.1 billion metric tons and $1.5 trillion by 2030.
Staggering as these numbers might be, they do not take into account the hidden costs of food production, including labor, storage and salvage or the costs related to customer dissatisfaction, lost opportunities, and inventory/stocking level imprecision.
Shockingly, one-third of all food produced for human consumption is lost due to wastage, which not only has significant financial implications, but also has environmental and social implications as well.
Comments are closed.