War In Ukraine Sparks Fears of Global Food Crisis ‘Beyond Anything We’ve Seen’

According to Bloomberg, “Futures in Chicago jumped by the daily limit for the sixth straight session, rising 7% to $12.94 a bushel. That builds on a massive surge of 41% last week, the most in data spanning six decades.”

“Ukraine and Russia together account for more than a quarter of global trade of wheat, used in everything from bread to noodles and livestock feed,” the news outlet reported. “The conflict has closed major ports in Ukraine, and severed logistics and transport links. Trade with Russia has also been stifled by the complexity of navigating sanctions and soaring insurance and freight costs.”

The price of fertilizer—made up of raw materials that are abundant in Russia and Belarus, including ammonia from natural gas, phosphate, and potash—is also soaring.

commondreams War on Ukraine Sparks Fears of Global Food Crisis ‘Beyond Anything We’ve Seen’