The Conversation published an op-ed by senior research fellows Derek Headey and Kalle Hirvonen about how the Russian invasion of Ukraine has led to disruptions of the global food supply. With sanctions on Russia and Ukraine unable to move its crops to its ports, 2022 is shaping up to be a very difficult year for the global food system. Expert analysts were concerned during the 2007 and 2011-2012 food prices spikes, but this crisis has the potential to be much worse. Three factors come into play: 1) People are still recovering from the COVID-19 health crisis, which led to the worst financial crisis since World War II; 2) Cash-strapped governments have little room to maneuver. Many economies face large debt burdens relative to national income, as well as growing deficits, weak exchange rates, uncertain near-term economic growth prospects, and foreign investors and development partners that are also short of cash. Countries already affected by conflict and climate change are exceptionally vulnerable, and 3) The 2022 crisis has no end in sight. The authors suggest three detailed avenues to take to buffer the worst of the impact: 1) Major grain producers must do everything they can to increase food supply; 2) In the short term the world needs oil-producing nations – often huge net importers of food – to increase fuel supplies to help bring down fuel, fertilizer and shipping costs; 3) Governments, international institutions, and even the private sector must offer social protection via food or financial aid.
A food crisis was brewing even before the Ukraine war – but taking these three steps could help the most vulnerable (The Conversation)
March 24, 2022