Remo Contro (Italy) published an article stating that the conflict in Ukraine is causing global food prices to skyrocket, with a catastrophic impact on the world’s poorest. Ukraine and Russia are the main exporters of basic foodstuffs and the war, through sanctions and cannon fire, has already hit agricultural production. Analysts have warned that the war could impact grain production and even double global grain prices. According to IFPRI (see Ukraine-Russia blog post series here), the food situation was already precarious before the Ukrainian war, but the conflict has definitely precipitated it. On the other hand, estimates say that the Russia-Ukraine blockade accounts for 12 percent of the “calories” exchanged in the world. Senior research fellow Joseph Glauber (quoted from the Guardian), argues that many countries, which depended on Kyiv and Moscow for the import of cereals, will now have to rely completely on the West (the United States, Europe, Canada) Australia, and Argentina.
Wheat war less bloody but often more cruel. Skyrocketing prices and starving people (Remo Contro)
April 15, 2022