Solsky at G7 Meeting: Russia's blockade of Ukrainian ports will lead to global food crisis

Solsky at G7 Meeting: Russia's blockade of Ukrainian ports will lead to global food crisis

Ukrinform
Russia's blockade of Ukrainian seaports has already led to a record rise in world market prices and will inevitably result in a global food crisis and rising inflation.

"Due to the blockade of Ukrainian seaports, 7 million tonnes of wheat, 14 million tonnes of corn grain, 3 million tonnes of sunflower oil, 3 million tonnes of sunflower meal, and other crops have not entered the world market. This has already led to a record rise in world market prices and will inevitably result in a global food crisis and rising inflation," Minister of Agrarian Policy and Food of Ukraine Mykola Solsky said at the opening of the G7 Agriculture Ministers' Meeting in Stuttgart on May 13, the Government portal reports.

As the minister stressed, the rise in grain prices leads to an automatic increase in prices for other basic food products around the world – bread, dairy products, meat, and eggs. This situation will be especially critical for the countries of Asia and Africa, where up to 40% of the population’s total expenditures account for food.

“Such a situation may trigger domestic political instability and possibly provoke an outbreak of conflict. On the other hand, the population will have to seek a better life on the borders of more developed countries,” Solsky predicts.

As a reminder, India banned wheat exports to ensure domestic food security and help neighboring countries.

Photo credit: minagro.gov.ua

ol


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2022 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-