PODCAST: The economics of the food we eat, and the impact of global trade tensions on farms around the world

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Rick Salter(L-R): Business Insider’s Sam Jacobs, CBA’s agri commodities strategist Tobin Gorey, and BI’s Paul Colgan.

Tobin Gorey is agri commodities strategist at the Commonwealth Bank and writes a fascinating and sometimes entertaining daily note on moves in the global markets for food and other agricultural products.

Significant parts of this market are now being affected by new tariffs being rolled out as trade tensions, especially between the US and China, continue to rachet up. This has the effect of dramatically shifting demand for some agricultural products between different exporting countries.

Gorey joins us on this week’s episode of the Devils and Details podcast to talk about the impact this is all having on prices for agricultural products in the supply chain. It leads into a discussion about the other major markets story of the year: the strong USD dollar, which is a benefit to many exporters (including Australia) because so many commodities are priced in the greenback.

[Devils and Details is LIVE at The Ivy in Sydney on November 27th from 6.30pm for an evening talking markets and economics with some of the best in the business. Tickets are $50 and include drinks and canapes for what’s sure to be great evening out. Book now!]

We also talk about the scale of Australia’s agriculture industry which extends far beyond farms and into logistics and the technology sector. And the show finishes with a discussion that went on far longer than intended about the economics of the food we eat, from bacon to steak to chicken and cheese.

Episode guide:

  • Intro: The US-China trade war and the impact on farming commodities
  • 14mins: The strong US dollar and its impacts on commodities demand
  • 28mins: Australia’s agriculture industry, technology developments and food science
  • 38 minutes: The economics of steak, bacon, cheese, wine and more.

You can find it online here, on iTunes, or search “Devils and Details” wherever you get your podcasts. Alternatively, you can listen in below. Enjoy!

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