Conflicts in Ukraine and the Middle East, combined with extreme weather, are threatening global food supplies and driving up costs.
Key facts
- •Russia and Ukraine provide more than 25% of the world's wheat supply.
- •Two-thirds of global sunflower oil exports originate from Russia and Ukraine.
- •Military operations involving the US, Israel, and Iran have driven up fertilizer and fuel prices.
- •Europe faces a potential record-level decline in grain production due to heat, drought, and wildfires.
- •The El Nino phenomenon is threatening key rice producers and exporters.
Rising food prices are expected globally due to the combined impact of ongoing military conflicts and severe weather conditions. According to a report by Bloomberg, disruptions to trade routes and climate-related damage to harvests are creating significant challenges for the global food market.
Impact of Conflict on Exports
Russia and Ukraine remain critical to global food security, accounting for over 25% of the world's wheat supplies, two-thirds of sunflower oil exports, and 10% of corn exports. However, the conflict in Ukraine has made shipments through the Black Sea increasingly difficult. Additionally, military operations involving the US, Israel, and Iran have contributed to rising costs for fuel and fertilizers.
Climate and Weather Disruptions
Extreme heat, drought, and wildfires in Europe are threatening to cause the largest decline in grain production seen in decades. Simultaneously, the El Nino climate phenomenon, which causes abnormal surface water temperature increases in the Pacific Ocean, is expected to negatively impact major rice-producing and exporting nations.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by TASS (English).
