Food loss is now a staggering problem. Management consulting giant BCG puts the figure at about a third of total produced. In spite of this a little less than a billion people go hungry each day. Closing this gap requires a huge task but also a massive business opportunity. It remains a key area of concern among the UN’s Sustainable Development Goals (SDGs) as well as for the Food and Agriculture Organization (FAO). It Also accounts for 8% of global greenhouse gas emissions, but presents a staggering US$ 700 billion opportunity. This food waste or loss occurs at every level of the value chain. These include production, storage, processing, distribution and consumption. To simplify the process BCG has broken down this seven-hundred-billion-dollar figure into component parts, starting with awareness generation alone worth 260 billion. Then supply chain infrastructural improvements are needed worth 150 billion. Another 120 billion will need to be invested on improving the supply-chain efficiency plus 60 billion on collaboration across players. Work from the policy-making level will be worth the final 110 billion dollars. The right partners and impact measurement tools will have to identified at the very start of this herculean task.

Source:https://www.bcg.com/en-us/publications/2018/tackling-1.6-billion-ton-food-loss-and-waste-crisis.aspx?linkId=56070461&redir=true

Uploaded Date:26 September 2018