Ukraine Food Crisis "Worst Since WWII"... Concerns Over Missing Planting Season

[Image source=AP Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] As Russia's invasion of Ukraine prolongs, the global food crisis is becoming a reality. Prices for all items related to grain production, including major grains such as wheat and corn, as well as international oil prices, fertilizer costs, and labor expenses, are soaring. Major export and import ports of Russia and Ukraine have been blockaded. To make matters worse, the spring planting season is approaching.

On the 20th (local time), David Beasley, Executive Director of the United Nations World Food Programme (WFP), warned in an interview with The New York Times (NYT) that "the Ukraine crisis is compounding disaster upon disaster, worsening the situation," and added, "There has been no precedent like this since World War II."

Concerns are growing that the Russian invasion of Ukraine, which began on February 24, and has continued into late March, may cause the missed planting season for major grains. The Wall Street Journal (WSJ) pointed out, "Between April and May, Ukraine should start planting major grains such as wheat, corn, and barley, but the ongoing war has made this uncertain."

Ukraine's major grain export ports are also engulfed in conflict and remain blockaded. Kherson, one of the largest grain export ports on the Black Sea, has been occupied by Russian forces, halting city functions. Mykolaiv (Nikolaev) and Odesa are also unable to navigate due to continuous bombardment by the Russian Black Sea Fleet.

Accordingly, global major grain prices have surged since the outbreak of the war. According to the NYT, international wheat prices have risen by 21%, barley by 33%, and prices of major grains heavily dependent on Ukraine and Russia have sharply increased.

Earlier, the Food and Agriculture Organization (FAO) of the United Nations announced that last month's Food Price Index (FFPI) reached 140.7, the highest since the index began in 1996.

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