Russia's war on Ukraine has sent grain prices skyrocketing - a worry for consumers worldwide but potentially a boon for producers like Argentina, which hopes an influx of soybean "agridollars" will boost its faltering economy.
Ukrainian farmers started working in their fields amid the ongoing Russian invasion of the country. The European Council accepted a decision to instruct the European Commission to support Ukraine's agriculture and food security following a meeting held on 24-25 March 2022 in Brussels.
The Horn of Africa is experiencing one of its most severe droughts in recent history, with more than 15 million people acutely food insecure in Ethiopia, Kenya and Somalia.
Ukraine’s grain exports have reached 46 million tonnes so far in the 2021/22 July-June season, the agriculture ministry said on Thursday. The ministry said the volume included 132,000 tonnes exported in May. It did not give a final figure for April but had exported 763,000 tonnes through April 29.
An official said despite the extra income from these additional crops, farmers are still having to cut back investment in their coffee trees Vietnam, which buys large amounts of fertiliser from Ukraine and Russia, is the world’s biggest grower of the robusta variety used in instant drinks and espressos
Somalia’s inflation is expected to surge past 10% unless the country gets good rains over the next two months to help ease pressure on food prices after losing wheat supplies from Ukraine, according to a top official at its central bank.
Brazil’s wheat exports to the Arab nations reached $285.86 million in Q1 2022, marking a 438 percent increase compared to the same period last year
The 2022 Global Report on Food Crises (GRFC), produced by United Nations’ Food and Agriculture Organisation (FAO), the World Food Programme and the European panel, released on Wednesday, says that the number of people who do not have adequate food has grown to 193 million in 53 countries. In 2021 alone, the number of hungry increased by 40 million.
The Human Rights Watch predicts that food prices could go up by 17% if the war in Ukraine continues. Cameroon has urged its citizens to switch to cassava crops as a shortage of wheat is being felt. There are fears of food riots in Kenya since the last one in February calling for price reduction of food, which spread to social media.
This blog post examines the unfolding war's impacts on the global market for vegetable oils, including additional factors affecting prices such as biofuel policies and export restrictions in the Black Sea and elsewhere.