Food corporations paid shareholders $53.5bn while millions went hungry

Without food sovereignty, private businesses will continue profiteering at the expense of the planet

Davi Martins

Imagine being able to provide food, shelter, medicine and clean drinking water for the 230 million most vulnerable people on Earth, and still having a cool $2bn in spare change. That’s the equivalent of the entire economic output of Gambia rattling around in your pocket.

The reason for this unlikely thought experiment is a new analysis showing that 20 of the world’s biggest food corporations – the largest in the grain, fertiliser, meat and dairy sectors – returned a total of $53.5bn to their shareholders in the last two financial years.

To put that into perspective, the UN estimates that it needs $51.5bn to provide life-saving support to 230 million people deemed most at risk worldwide. You get the idea. What’s more, the corporations ‘earned’ these profits during a period of unprecedented turmoil – a global pandemic and full-scale war in Ukraine – when global supply chains were disrupted and millions of people went hungry….