Bloomberg: Record Food Prices Could Leap 22% More on Ukraine War, UN Warns
(Bloomberg) -- Record-high global food costs could surge another 22% as Russia’s assault on Ukraine stifles trade and slashes future harvests, the United Nations warned.
A report from the agency’s Food and Agriculture Organization on Friday shows the far-reaching fallout of the war on the world’s food system, with the impact set to stretch well beyond the next season.
Ukraine and Russia together account for more than a tenth of all calories traded globally, and those flows have been stifled since the conflict erupted late last month.
Soaring production costs means other countries will only partly be able to compensate for the “sudden and steep reduction” in Black Sea grain and sunflower exports in the coming 2022-23 season, FAO said.
That will likely push international food and feed prices 22% higher and a “considerable” supply gap will linger going forward if the war persists and energy stays expensive.
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WNU Editor: I do see food riots around the world by the end of this year. The Middle East is the most vulnerable.
Global Food Crisis Growing As The War In Ukraine Continues
UN: War in Ukraine to hurt poor nations importing grain -- AP
UN agency warns Ukraine war could trigger 20% food price rise -- Reuters
UN warns global food prices, already at record high, could surge another 22 percent -- The Hill
Flour rationing in Lebanon, grain hoarding in Hungary: How the Ukraine war is lurching the globe toward a new food crisis -- Washington Post
After pandemic, war in Ukraine new threat to food security -- AP
Food crisis grows as spiralling prices spark export bans -- Reuters
Global food shortage and higher prices may result from war in Ukraine -- CNN
Middle East faces severe wheat crisis over war in Ukraine -- DW
G-7 Ministers Vow Action to Prevent Food Crisis -- Nippon
Surge in wheat prices expected to seed more suffering -- Axios