Some have heard about the impact of the Russian invasion of Ukraine, the subsequent enactment of sanctions against Russia, the Russian’s cessation of agricultural exports as a reaction to the sanctions, and what that means for the world’s food supplies. However, the media is not warning people of the potential problem this creates.
Zero Hedge has a concise piece that highlights what that means to the globe. From the piece:
The curtailment of agricultural exports from Russia and Ukraine will have dramatic knock-on effects on global food supplies. Both countries are known as the ‘breadbasket of the world’ and are responsible for a quarter of the international wheat trade, about a fifth of corn, and 12% of all calories traded globally. Another major problem is access to fertilizers, as Russia has banned exports of the nutrients.
A blogger’s tweet quoted in the piece captures the concerns many of us have:
If our concerns are correct, this will be a long couple of years, and inflation will be the least of our worries.
