Experts warn of a surge in crop prices and food costs as wheat exports from Ukraine and Russia are impacted by the war.
Last week India announced it would ban exports of wheat due to a heat wave and supply concerns.
An analyst in global warming and food insecurity warned the UN last week that the world has about 10 weeks of wheat supplies stored due to the War in Ukraine.
Russia is the world’s largest wheat exporter. Ukraine is sixth largest exporter.
The Insider reported:
The world has about 10 weeks of wheat supplies stored as Russia’s invasion of Ukraine enters its fourth month, a food insecurity expert told the UN.
Sara Menker, the CEO of agriculture analytics firm Gro Intelligence, told the UN Security Council that the Russia-Ukraine war was not the cause of a food security crisis but “simply added fuel to a fire that was long burning.”
Ukraine is considered the world’s “breadbasket” and Russia and Ukraine combined account for almost a third of the world’s wheat exports.
This comes as US Secretary of State Antony Blinken accused Russia of using food as a weapon. Blinken, also addressing the UN Security Council, said that Russia was holding food “hostage” not just for Ukrainians but for millions across the world.
“The Russian government seems to think that using food as a weapon will help accomplish what its invasion has not – to break the spirit of the Ukrainian people,” Blinken said.
Menker said droughts across the world are contributing to declining wheat resources. Menker said global food supplies are also being impacted by climate change and fertilizer shortages.