How is geopolitics contributing to global food insecurity? Suggest some solutions.
The Russia-Ukraine war has not only created instability in the European region but has also led to a global food shortage. We live in a highly globalized world, where a war is not just the loss of two countries rather it affects the whole world.
Importance of Russia and Ukraine for global food security:
- Both countries are among the top producers of various agricultural commodities.
- Share of Russia and Ukraine in global wheat exports is around 18 and 10 percent respectively.
- Both countries are among the top 3 exporters of wheat, barley, maize and sunflower oil, globally.
- Together they supply more than 60% of the world’s sunflower oil.
- Ukraine’s exports are disrupted because of the naval blockade by Russia and the Russian exports have been hit by Western sanctions.
Global food crisis:
- Many countries were facing food insecurity before the war as supply chains were already disrupted due to COVID-19.
- The war has aggravated the situation.
- Agricultural Price Index is 40% higher compared to January 2021, according to the World Bank.
- All economies in the world are suffering from inflation.
- Cost-of-living is increasing with food and energy prices rocketing.
- In the U.K., inflation numbers have already hit a 40-year high.
- Low-income countries are the most vulnerable.
Way forward:
Grain bank and edible oil supply could help meet the starvation of the impoverished in the near term.