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Reducing global food waste could save $300 billion per year

Reducing food waste by 20 to 50 percent could save between $120 billion and $300 billion per year.  A new report, done jointly by a couple of global entities suggests that a third of all food produced in the world ends up as waste.  What’s thrown in the trash is currently worth more than $400 billion a year.  But as the global middle class expands in the next ten years, the cost could rise to $600 billion a year.

Consuming leftovers saves more than money.  The report says reducing food waste will improve economic performance and tackle climate change by cutting the amount of food wasted in agriculture, transportation, storage and consumption.

One of the report’s authors, Richard Swannell points out that consumers will play a major role in reducing food waste.  In the UK, where he’s based, most food waste happens in the home.  From 2007 to 2012, a UK campaign to reduce household food waste resulted in a 21 percent reduction, saving $20 billion.

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