https://www.youtube.com/watch?v=MumiDdR_2jQ

FOOD CRISIS: Fears from Russia- Ukraine war Drives up cost of Wheat Globally

As the Russian army tightens its grip in Ukraine, fears grow of an unintended consequence of the war: a food-security crisis.

Some of the biggest – and hungriest – nations are dependent on shipments of grain from countries like Ukraine and Russia, which together account for a quarter of the world’s entire wheat exports.

The war has also sent fuel prices soaring, which will have an effect on the cost of producing and transporting food. Fertilizer, a critical component of agriculture, has also become more expensive.

One particularly vulnerable country is Egypt. A nation of over 100 million people, it spends $4 billion a year importing food to feed its population, and 70 per cent of its wheat demand comes from Ukraine and Russia.

The fact that exports from Ukraine are cut off entirely presents a terrifying dilemma for Egypt or Turkey, which also depends heavily on wheat from the region.

“This shortage really matters,” says Tymofiy Mylovanov, a former Minister of Economic Development, Trade and Agriculture of Ukraine. “There will be hunger in certain countries,” he told Global News.

As the world continues to endure the impact of the COVID-19 pandemic, a war in Europe is only adding to a sense of economic insecurity.

Stock markets have been on a rollercoaster ride in recent weeks, as investors grapple with the potential long-term economic consequences of Russia’s invasion of Ukraine.

In the past, disruptions to supplies have led to political instability in countries that are food insecure at the best of times, and experts fear that the same could happen as supplies from Ukraine and Russia are cut off.

The immediate impacts will be felt in the Middle East, Africa and Southeast Asia, says Mylovanov, who returned to Kyiv from the United States just days before Russia’s invasion, out of a sense of duty to his country.

Large countries like Egypt, he says, will start looking to other suppliers, and that will drive prices up for everyone.

“If you have five people to feed, and you have six pieces of bread, the price of bread is zero, because you have extra. But if you have four pieces, then the price of bread is everything they’ve got.”

“This shows that what happens in one part of the world has an impact on other parts of the world.”

https://globalnews.ca/news/8678505/ripple-effect-war-ukraine-food-security/amp/

First to comment

Results of been jobless today

Since 2015 we been at war

War mongers...hope you're happy now

Food scarcity in Nigeria is primarily caused by herdsmen/bandits/terrorists menace while the CnC is globetrotting on taxpayers sweats.

Not Russian/Ukraine war

E no affect me

It is well

We will still overcome

No be Naija?

If there was war in any part of Africa,will it cause the cost of basic nessecities in other parts of the world to rise??
I don't think so

9ja na one kind place I don't understand,

Another people go dey drink e go dey shark them like a girl wey just fall in love new, no decoy, strategy or rebound.

Always dependent on other countries like 9ja girl with little brain to work and fend for her self

A country with selfish leader right from her birth.

Bleep all of them white America all of them

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Oya Putin stop d war now now before naija con invade Russia.....

Nonsense Excuses

We started feeling the heat before this war naw

The ban on Russia is hypocrisy

US is still trading with Russia secretly

Europe is still buying it's gas from Russia

The ban is only for Africa and non European countries

If African leaders have sense, this is the time they will maximise intra African trade and massive industrialization and development

Below is the trade report between Europe and Russia since the ban was placed

Hypocrisy is West and West is hypocrisy

But they won't.

They would prefer to go to France for holidays, to go UK for medical check-up

Somewhere right now ....

righteousness89 Please pray for us

Just Imagine Wetin Chief Dim Odumegu Ojukwu Die Leave

Hn

Hmmm. This is beginning to GEt scary

Hunger dey here I...

A

Antoeni:
Just Imagine Wetin Chief Dim Odumegu Ojukwu Die Leave

abegi, she's old cargo now... Even before her husband died lady has been knacking elsewhere.... Or you think say Mrs ebelechukwu obiano called her ashewo for nothing? Guy wake up...

All Thanks to Puttin and The West