YLE published an article (also, published on radio) about how the war in Ukraine is causing major disruptions to the world food market and raising food prices sharply. Poor urban dwellers in developing countries will feel the worst consequences. The pandemic caused supply difficulties, the global harvest remained weak and prices began to skyrocket as energy prices rose. In Finland, too, the rise in food prices began to accelerate at the turn of the year. Now the situation is even gloomier. The war in Ukraine will cause a significant supply shock to the world food market, says senior research fellow Kalle Hirvonen. According to Hirvonen, the rapid rise in food prices will create both winners and losers. This has been revealed from studies of previous price crises. The last time food prices rose to a record high was in 2007-2008 and in 2011.
War creates a vacuum in the food market that is difficult to fill – a scientist says the shock will divide the world into winners and losers (YLE)
March 11, 2022