The Guardian published an article on global food prices rising to their highest ever levels in March as a result of Russia’s invasion of Ukraine. Senior research fellow Joseph Glauber said that before the invasion, prices were already near record highs because of limited global supplies. “Projected stock levels were already low relative to recent years, which means that there are few supplies available to buffer the impacts of reduced exports coming from the Black Sea,” he said. IFPRI estimates that Ukraine and Russia accounted for 12 percent of calories traded in the world. Glauber added that the volatility in food prices was being felt everywhere. Countries that were particularly reliant on wheat from Russia and Ukraine may have to switch to the EU, US, Australia, Canada and Argentina for wheat supplies.
“Many of these countries are in North Africa and the Middle East where wheat often accounts for as much as 35 percent of total calories consumed and a majority of the wheat is imported, much from the Black Sea.” Republished in various outlets including Thanh Nien (Viet Nam), Furora TV (Poland).