© Matthias Rhomberg/AMA-Forum
02.12.2019
The Real Cost of Food
Video: WIFO Economist Franz Sinabell at the "AMA-Forum"
Exploring the "true costs of food", WIFO economist Franz Sinabell stated that "many of our essential groceries are sold below their value" at the fifth AMA-Forum which took place in the Congress Saalfelden on 20 November 2019.
According to Sinabell, the price of a food item is not always a good indicator of its true costs. Market prices often do not reflect the social costs and therefore need to be corrected. In markets with limited competition, prices should be lower. The prices of goods that are detrimental to the environment or to consumers should be higher.
In the scientific literature, there is considerable evidence that eating healthy food according to their seasonal production pattern goes hand in hand with lower environmental impacts. According to Sinabell's assessment, less food waste would be necessary for achieving the goals of climate policy.
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