Published 17:20 IST, May 25th 2022
EXPLAINED: How is Russia-Ukraine war causing a global food crisis?
UN Secretary-General Antonio Guterres has warned that a global food catastrophe is looming as a result of Russia's ongoing invasion of Ukraine. Here's why.
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ongoing ravaging war in eastern Europe has not only affected Russia and Ukraine but whole world in some way or or, causing food crises and disruptions to energy supply chains. UN Secretary-General Antonio Guterres has warned that a global food catastrophe is looming as a result of Russia's invasion of Ukraine.
Increasing food prices have worsened rising inflation, which has been driven by increased energy prices as West disengages from Russian oil and gas supplies, raising fears that many of world's poorest people would find it tough to feed mselves.
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How is ongoing war causing a global food crisis?
issue arises because Russia and Ukraine are major exporters of some of world's most important staple foods. Black Sea region is vital to world food security because of its importance in supplying food, fertilisers, and energy. Russia and Ukraine are key exporters of wheat and maize, as y account for at least 30% of global supply across world. y account for 20% of maize exports, according to Indian Council of World Affairs (ICWA). Wheat supplies have been harmed immensely since onset of war in late February, as Ukrainian ports have been restricted by Russia for commercial shipping.
Furrmore, mounting sanctions on Russia, particularly its banks, have harmed merchants' access to credit. Meanwhile, cost of insurance has risen significantly. Apart from all se factors, nearly 13.5 million tonnes of wheat are stuck in Ukraine and Russia. Ukrainian President Volodymyr Zelenskyy stated that Russia has blocked almost all Ukrainian ports and around 22 million tonnes of grain including wheat, barley, sunflowers and ors.
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Ukraine supplies 50% of grain for World Food Programme
While Ukraine exports large amounts of grain to countries all over world, Asia and Africa are its primary buyers. According to United Nations Conference on Tre and Development (UNCT), up to 25 African nations, including many least developed countries, import more than one-third of ir wheat from two warring countries. Meanwhile, for 15 of m, it is more than 50%. Furrmore, Ukraine supplies 50% of grain for World Food Programme (WFP), which feeds 125 million of world's poorest people. In dition, fertiliser prices have reached an all-time high, with raw material prices for fertiliser production jumping by 30% since onset of war.
What can be done to mitigate rising food crisis?
In an effort to resume Ukrainian grain exports, UN Secretary-General Antonio Guterres said he was in "constant touch" with Russia, Ukraine, Turkey, United States, and European Union. Guterres expressed "hope" for a solution, saying Russia would allow shipment of grain stored at Ukrainian ports and ensure unhindered access to global markets. Meanwhile, Ukrainian government has proposed Group of Seven (G7) countries create an influential organisation of grain exporting countries to tackle global market challenges.
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Mykola Solsky, Ukraine's Minister of Agrarian Policy, urged that world's leing grain exporting countries should consider formation of a prominent organisation that would respond to challenges to food security, particularly from Russia. According to him, such an organisation would play a role in imposing export restrictions on grains to stabilise prices and market predictability. Meanwhile, Russian government has stated that it would consider opening access to Ukraine's Black Sea ports only "if sanctions against Moscow are reviewed."
(Image: AP)
17:19 IST, May 25th 2022