UK warns of surge in prices of staple products as Russia blocks Ukraine's Black Sea ports

As the ongoing Russian-Ukrainian conflict has now triggered concerns about the global food crisis, the UK Defence Ministry released a statement expressing concern about the risk of rising staple product prices, caused by the blockade of Ukraine's Black Sea ports. As per the UK's defence intelligence report, due to the ongoing war, shipping activity in or out of Odesa has been significantly affected. The war has also placed an indirect pressure on global grain prices and supply shortfalls are likely to increase in the coming days, it said.

The UK MoD said in its latest intelligence briefing, "There has been no significant shipping activity in or out of Odesa since the start of the war,"

"Fighting has already placed indirect pressure on global grain prices. While the threat of Russia's naval blockade continues to deter access by commercial shipping to Ukrainian ports, the resulting supply shortfalls will further increase the price of many staple products," the ministry added.

Staple product prices likely to rise as Russia continues blocking Ukraine ports: UK

Over 47 mn people likely to suffer food insecurity: Lesia Vasylenko

Earlier, Ukraine MP Lesia Vasylenko also expressed concern over the worsening food crisis caused by Russia's "special military operation". According to Vasylenko, more than 47 million people are likely to suffer from food insecurity due to the ongoing war. However, the crisis could be averted if the Black Sea ports are deblocked, she added. Taking to Twitter, she urged world leaders to launch a military operation in the blocked seaport in order to avert a global food crisis.

Ukraine accounts for 10% of the wheat production in the world

According to a recent report published by The New York Times, Ukraine alone accounts for 10% of the wheat production in the world, but due to the ongoing war the export of the cereal grain, a worldwide staple food, has been reduced to one-tenth. Also, international shipments of wheat have been severely affected due to Russian aggression resulting in shortages and price hikes. 

It is important to mention here that, on several occasions, Ukraine has claimed that Russian forces were targetting the stocks of grains, and this has forced the Ukrainian authorities to shift many of its stocks to other places. Last month, embattled President Volodymyr Zelenskyy also echoed the same issue during his address to Italy's parliament. Zelenskyy claimed that a famine-like situation could affect many countries which are dependent on Ukraine.