But it doesn't always work like this though. Plenty of people in the global south are both malnourished and overweight or obese. I'll explain from my own context here, but it's usually because the only food we can afford are staple grains, stuff like mielie meal, and maybe some other staples like flour and sugar. And eat mostly that and nothing else. And because a lot of these staple foods are really calorie dense (there are over 800 calories in 1 cup of mielie meal) while being relatively cheap but lacking in overall nutrients, it is very possible to end up overweight, and even obese and malnourished. It's why the rural/urban divide between obesity rates is only a few percentage points, and countries with really high obesity rates can struggle with malnutrition and hunger.

Of course capitalist resource allocation is a major problem, and is a big reason behind food insecurity and massive inequalities between the imperial core and the global south, but poverty, hunger and malnutrition don't always look like that top picture in your post.