Farmers Missing for Wheat Sowing... Russia's Invasion of Ukraine Raises 'Global Food Crisis' Concerns

Concerns are emerging that a global 'food crisis' could become a reality. Photo by Pixabay.

[Asia Economy Reporter Heo Midam] Concerns are growing that a global 'food crisis' could become a reality due to Russia's invasion of Ukraine. Russia and Ukraine account for about 30% of the world's wheat production, but given the wartime situation, it will be difficult to properly cultivate crops during the upcoming wheat planting season.

On the 12th (local time), US media outlets including CNN reported that agricultural product prices have soared since Russia invaded Ukraine. The Food and Agriculture Organization (FAO) announced that last month's Food Price Index (FFPI) was 140.7, up 24.1% compared to the previous year. This is the highest level since records began in 1996.

According to the FAO, Russia is the world's largest wheat exporter, and Ukraine ranks fifth in wheat exports. The two countries also account for 19% of the world's barley supply and 4% of corn. However, difficulties in exports from Russia and Ukraine have led to price increases.

In particular, farmers in Ukraine are either taking up arms or fleeing abroad, causing a severe labor shortage. Additionally, with Russian forces occupying Ukrainian Black Sea port cities, it has become virtually impossible to obtain fertilizers and other supplies typically brought in through the Black Sea.

Not only the two countries involved in the war but also Hungary, Argentina, and Turkey are reportedly planning to restrict wheat exports. Earlier, Hungary's Ministry of Agriculture decided to immediately halt all grain exports, and Argentina, a major grain exporter, has introduced a 'price stabilization system' to ensure domestic wheat supply.

Turkey, the largest wheat flour exporter, has also strengthened controls on grain exports, and Moldova has temporarily suspended exports of wheat, corn, and sugar starting this month.

Meanwhile, disruptions are expected in fertilizer production as well. Russia is one of the major fertilizer producers, but due to the war and the strong international sanctions imposed on Russia, companies worldwide are reluctant to engage in transactions with Russia.

A CEO of a fertilizer manufacturing company told CNN, "The issue is not whether a food crisis will come, but how massive the crisis will be."

This content was produced with the assistance of AI translation services.