While corporate food giants control the food supply chain, smallholder farmers, fishers and workers often work often in inhumane conditions and get only 5-10% of the price the final consumer pays for its food.
World food waste sums up to more than 1.3 billion tons per year. EU is actively working to curve in order to secure the world's food supply, as food waste often leads to economic losses for farmers and higher prices for consumers. Both have an impact on food insecurity.
The best bet for food businesses’ continuity is to focus on sustainable and ethical sourcing, as the “conscious consumer” trend grows and impacts consumer choice and loyalty. Product origin plays a greater role in consumer decision making. 77% of people recognize the Fairtrade mark, 87% of those trust it.
Blockchain and smart contracts contribute to food safety. Farming would be more transparent by improving tracking, tracing and documenting. The food chain can be shorter and easier to monitor for producers, retailers and customers.