Global food crisis, recession could be caused by Russian-Ukrainian war
According to a report by agricultural financial advisory Rabobank, the world should make preparations for a possible global food crisis in the coming months as a result of the tensions between Russia and Ukraine.
There are now a number of major grain and agricultural exporters in Russia, Belarus, and Ukraine. Twenty-three percent of their products are produced by the company, which includes wheat, corn, barley, canola, sunflower oil, pulses, nitrogen-based fertilizer and potash.
“The world has not yet fully felt the heavy absence of Ukraine’s supplies,” the report said. “However, this is about to change from July onward.”
The Rabobank analysts noted that because it is impossible to estimate how much grain may be produced in the coming growing season by Ukraine, even under conservative modelling assumptions, there may be a shortage of grain and feed, which could threaten global food security.
27 May 2022