The Office for National Statistics (ONS) revealed last week that UK food-price inflation accelerated to 16.4% in October, up from 14.6% the previous month. Alongside rail strikes and higher energy costs, rising food prices are putting households under pressure. As they cut back on discretionary items, online retailers such as Boohoo (whose share price has slumped by 63% this year) and ASOS (down by 69%) have felt the pain. While people will cut back on online fashion, they are not going to stop buying food. Finding the winners that are benefiting from higher food prices is not straightforward, though.
The obvious place to start is farmers, but no farms are listed on the stockmarket. Even if it were possible to buy shares in farmland, agriculture is notorious for its poor return on capital (a key gauge
