ukraine x russia
A crucial portion of the world’s wheat, corn and barley is trapped in Russia and Ukraine because of the war in that country, while an even larger portion of the world’s fertilizers is stuck in Russia and Belarus. The result is that global food and fertilizer prices are soaring, foreshadowing a rise in world hunger.
Since the invasion of Ukraine last month, wheat prices have increased by 21 percent, barley by 33 percent and some fertilizers by 40 percent. Compounded with the coronavirus pandemic and China’s worst wheat crop in decades, conditions could further deteriorate, officials warn. Of particular concern is that Ukrainian farms are about to miss critical planting and harvesting seasons.
This month, the U.N. said that the war’s impact on the global food market could cause an additional 7.6 million to 13.1 million people to go hungry. In February, U.S. grocery prices were already up 8.6 percent over the previous year, the largest increase in 40 years.
By the numbers: Over the past five years, Russia and Ukraine have accounted for nearly a third of exports of the world’s wheat and barley, 17 percent of its corn and 75 percent of its sunflower seed oil, an important cooking oil in some parts of the world.
New York Times
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