"As bad as it is — a key wheat future surged 70 percent over the past month — the situation is poised to get worse. A new report by the Food and Agriculture Organization of the United Nations (FAO) due out Friday estimates food and feed prices could surge 7 percent to 22 percent above already elevated levels due to the war," the paper added.
With prices adjusted for inflation, the cost of food commodities is nearly, but not yet passing, the worldwide food crisis during the 2007-08 collapse, as droughts, the rise in biofuels and a tidal wave of trade protectionism combined to produce the worst food inflation since the Soviet Union's grain crisis during the 1970s.
There is some good news, but not much. In the short term, countries that produce a large amount of wheat and grains -- Australia, Argentina, India and the United States -- will be able to make up some of the Russia-Ukraine shortfalls. However, the bad news is, nation-hoarding of such commodities, or a return to trade protectionism, has already begun in many countries: Since the Russian invasion, Indonesia has set new limits on palm oil exports to control prices. Hungary banned all grain exports last week; Serbia on Wednesday said it would ban exports of wheat, corn, flour and cooking oil. On Thursday, Egypt — a country 80 percent reliant on Russian and Ukrainian wheat — imposed controls on grain exports as the price of subsidized bread has already started to creep up. In Ukraine, meanwhile, tractors that would normally be engaged in agricultural activities have been commandeered by the government and pushed into war duty -- to haul off destroyed Russian tanks and vehicles, for instance, leaving them unavailable for harvesting crops. As such, Kyiv has implemented export restrictions of meat, rye, oats, buckwheat, sugar, millet and salt, while some curbs on wheat and corn (which earn the government revenue) have also been implemented. The war in Ukraine may be regional in nature, but it is already having negative global implications on food security. And it's going to get worse. See FoodRationing.news for more coverage of food rationing and riots as they emerge. Sources include: WashingtonPost.com NaturalNews.comDr. Marble: With COVID lies exposed, globalists now promote WORLD WAR to depopulate the world
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