China.org published an article stating that with surging global commodity prices, a food supply crisis is looming large, especially in several MENA nations. The Russia-Ukraine conflict has a profound impact on international commodity prices given the two countries important roles in global grain markets. Senior research fellow David Laborde said, “Middle Eastern and North African countries, especially some developing countries like Lebanon or Yemen, “will face the brunt” of the current conflict in Ukraine, as their economic and political situations give them little flexibility to adjust to the crisis.” South Asian countries like Bangladesh could also be hurt by the ongoing military conflict in Europe, which has disrupted the global trade of key foods such as wheat and vegetable oil, as well as fertilizers. Instead of a sudden shock, “we will see a continuation of high prices, with some spikes when and if bad news happens in the coming weeks,” Laborde said.
World Insights: Mideast, N. Africa to suffer most from global food supply crisis, experts say (China.org)
April 29, 2022