The war in Ukraine has highlighted the fragility of the global food supply at risk and the reliance many nations have on single supply routes and markets. The global economy was already suffering from the consequences of regional conflicts, climate change, COVID-19 and rising costs, even before the Russian invasion but the war in Ukraine has exacerbated an already critical supply chain issue which threatens to have devastating repercussions for poor people in low-income and developing countries.
The world’s food markets are very condensed regarding supplies and reserves. Nearly 90% of the world’s wheat exports come from just seven countries and three hold almost 70% of the world’s wheat reserves. The figures are similar when it comes to corn, grains, soybean and rice. According to the World Food Program, Russia and Ukraine supplied about 30% of the world’s wheat and barley before the war and thirty-six countries, including some of the world’s most under-developed nations, are critically dependent on imported food for more than half of their wheat imports. How does the world react to ensure these critical supply routes are kept open in times of conflict, is it time the international community worked together to prevent what could become a global calamity?
Is Global Food Supply at risk? Download our latest Intelligence Report to know more about the measures required to avert a food catastrophe.