Why wheat and the threat of global famine are weapons in Russia's war with Ukraine?

Published 2022년 7월 5일

Tridge summary

Russia's invasion of Ukraine has disrupted the global wheat market, leading to potential hunger in some countries. Wheat prices were already high due to energy prices, Covid-19 supply chain disruptions, and a heatwave in Canada, but the war further increased prices. Wheat is a crucial food source, with only a dozen countries producing a significant amount for export. The conflict has also impacted Ukraine's wheat harvest and has been labeled as 'blackmail' by the US Secretary of State. Global wheat production is expected to decrease, but prices have recently fallen due to harvests starting and concerns of a recession.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Russia's invasion of agricultural power Ukraine has severely disrupted the global wheat market, prompting warnings that the conflict could lead to hunger in some countries. Why is wheat irreplaceable? Wheat is milled into flour to make a huge range of foods, from bread to pasta to desserts. "Everyone eats wheat, but not everyone is capable of producing it," says Bruno Parmentier, an economist and author of the book "Feeding Humanity". Only around a dozen countries produce enough wheat to be able to export it, too. China is the world's top producer but is also a major importer of the commodity to feed its 1.4 billion people. Russia, the United States, Australia, Canada and Ukraine are the world's top exporters. Egypt, Indonesia, Nigeria and Turkey are among the top importers. Why are wheat prices high? Grain prices were already high before Russia began its invasion of Ukraine in February. There were several factors behind the increases: Energy prices soared as economies bounced ...
Source: News24

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