“ Fertilizer producers are warning of continuing shortages. The result is that fertilizer is about three to four times costlier now than in 2020, with far-reaching consequences for farmer incomes, agricultural yields and food prices. At the same time, more-expensive natural gas, another Russian export and a crucial ingredient in fertilizer-making, has led European fertilizer factories to scale back production. They have now reached record levels amid a precipitous drop in Russian supply, according to CRU Group, which analyzes commodity markets. Meanwhile, Wall Street Journal writers Jon Emont and Silvina Frydlewsky reported in today’s paper that, “ Fertilizer prices were already high before the war. The Financial Times- Opinion (March 25, 2022). Now Russia’s invasion has triggered further rises and concerns about prolonged disruption in agriculture-rich Ukraine.” “Farm commodities - gamble or hedge?” by Stefan Wagstyl. “ Food costs were increasing even before the Ukraine war, driven by higher energy prices, transport bottlenecks and, in some countries, farm labour shortages. And in Iraq there have been bread price protests. Supermarkets in Italy have reported panic buying. UK food banks say they have never been busier. In an opinion column posted today at The Financial Times Online, Stefan Wagstyl pointed out that, “ Rising food prices are ringing alarm bells for households all over the world. Reuters News reported today that, “ Mykola Solskyi, who was appointed on Thursday, said global food prices would continue to rise if the situation in Ukraine following Russia’s invasion did not change.” Infrastructure damage, labor shortages and continuing conflict could also compromise the summer harvest and transportation of whatever is produced.”ĭuring the meeting we agreed that in order to further strengthen #FoodSecurity, we also need to strengthen our farmers' economic viability and strengthen our economic models for the future CAP. Shelling and fuel shortages may interfere with spring planting and fertilizer farmers need to apply to the winter wheat crop as it emerges from dormancy. Grain and sunflower oil in storage from last year’s harvest can’t be shipped because of fighting and port closures. The Bloomberg article indicated that, “The food shock in Ukraine looks devastating. White House officials have held multiple discussions over the past week with national security, agriculture, development and Treasury officials to seek ways to prevent supply shortages and price hikes, according to people familiar with the conversations.
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allies are exploring how to keep Russia’s invasion of Ukraine from causing a spike in global hunger as the war increasingly disrupts supplies of wheat and other goods from a region known as one of the world’s breadbaskets.” Biden said he’s also urging all nations including those in Europe to drop trade restrictions that could restrict exports of food,” the Bloomberg article said.Īlso yesterday, Bloomberg writers Mike Dorning, Jennifer Jacobs, and Josh Wingrove reported that, “President Joe Biden and the leaders of top U.S. “Biden said that at the G-7 summit in Brussels earlier that he and Canadian Prime Minister Justin Trudeau both discussed i ncreasing their nation’s agricultural production to try to make up for shortfalls.
He says G7 talked about how to disseminate wheat more rapidly, and how to "end trade restrictions" on sending food abroad.- Jennifer Jacobs March 24, 2022 "It's going to be real," Biden says of war-related food shortages, "because both Russia and Ukraine have been the bread basket of Europe" for wheat. Illinois Farmland Leasing & Rental Forms.Illinois Crop Budgets & Historic Returns.
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