War on Ukraine Sparks Fears of Global Food Crisis 'Beyond Anything We've Seen'

[Gaugamela]

"The escalation of the conflict is now putting markets into serious turmoil," the Agricultural Market Information System said Monday in a report. "Any serious disruption of production and exports from these suppliers will no doubt drive up prices further and erode food security for millions of people."

David Beasley, executive director of the World Food Programme (WFP) at the United Nations, warned recently that "the bullets and bombs in Ukraine could take the global hunger crisis to levels beyond anything we've seen before."

"This is not just a crisis inside Ukraine," said Beasley. "This is going to affect supply chains, and particularly the cost of food."

. . . . . . .

"Half the world's population gets food as a result of fertilizers... and if that's removed from the field for some crops, [the yield] will drop by 50%."

"For me, it's not whether we are moving into a global food crisis," he added. "It's how large the crisis will be."

https://www.commondreams.org/news/2022/03/07/war-ukraine-sparks-fears-global-food-crisis-beyond-anything-weve-seen

I'm beginning to wonder if, aside from a few objectives near Crimea, this war was never really about Ukraine. Rather, this war is an extension of Putin's attack on the West and the prevailing global order. If so, it's an act of terrorism against the whole world, and WWIII has already started.

[jimfields33]

1. You practically have to get a loan to buy groceries now.

I can’t imagine them going up even more. Prices now are unsustainable in my opinion.

[progree]

2. Wheat up 41% in the past week. Russia and Ukraine account for over 30% of global wheat exports

Commodities soar as war builds anxiety over supply shortages --
https://www.democraticunderground.com/111692731

Raw materials more broadly are on a tear this week - with aluminum up 13%; Brent crude oil, 15%; corn, 17%; and wheat, a whopping 41%.

Russia and Ukraine accounts for over 30% of global wheat exports, per the post.

And these shocking price increases won't show up in the CPI report that is to be released Thursday, because that report is for inflation in February. In other words, whatever bad news is in Thursday's CPI report is almost certain to be worse in next month's report.