Tridge summary
The article highlights the economic impact of the ongoing war, which has led to a significant increase in wheat prices, causing inflation in rich countries and potential famine in poor ones. The article notes that the global cost of the war has exceeded 90 billion dollars, with wheat prices surging by 36%. The reduction in wheat production in key countries like the US, India, and Ukraine, coupled with the increase in production in Russia, is disrupting the global supply-demand equilibrium. The article emphasizes the need for countries to increase their agricultural production to reduce dependence on foreign supplies and avoid food crises. It also underscores the importance of supply chain agreements, fair pricing, and investment in technology and infrastructure to enhance agricultural productivity and sustainability.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Three months after the start, the war has already cost over 90 billion dollars globally alone due to the increase in wheat prices which have jumped by 36% but cascading effects have been felt on all food products. This is what emerges from the balance drawn up by Coldiretti on the impact of the increase in prices on the value of world production at the Chicago Board of Trade, on the occasion of the opening of Davos, the World Economic Forum with Ukrainian President Zelensky. Wheat prices fluctuate around 12 dollars per bushel (27.2 kilos) resulting in a situation that in rich countries - underlines Coldiretti - has generated inflation but in poor ones it causes famine and risks of riots with 53 countries at risk of food according to the UN. On the other hand, speculation on hunger, which - explains Coldiretti - shifts from financial markets in difficulty to precious metals such as gold to agricultural products where prices depend less and less on the real trend of supply and ...
Source: Coldiretti
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