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INTERNATIONAL > Ukraine Crisis

Global food prices surge after Russian invasion of Ukraine

  • May 17, 2022
  • , Yomiuri
  • JMH Summary

Yomiuri ran an extensive report on the recent surge in food prices around the world, saying that Russia’s invasion of Ukraine has been threatening stable food supplies because the Russian forces’ blockade of Black Sea ports has been disrupting grain exports from Ukraine. The paper wrote that the disruptions at Black Sea ports have been seriously affecting many nations in the Middle East and Africa, which heavily depend on Ukraine and Russia for wheat imports. The paper also wrote that Russia, the world’s largest exporter of fertilizer, has been restricting exports of fertilizer and its ingredients since the invasion of Ukraine, and prices for these items are rising worldwide and pushing up production costs for American farmers as a result. The paper went on to say that although Japan depends on the United States, Canada, and Australia for about 90% of its wheat imports, Japan is worried that it will be forced to compete with Middle Eastern and African nations if they start seeking wheat imports from North America and Australia.

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