Global Outlook: how the war in Ukraine will fuel global food insecurity

Article tags Food securitySupply chainsUkraine crisisGlobal

In EIU’s latest global outlook video, global forecasting director, Agathe Demarais and senior global analyst, Cody Feldman discuss how the war in Ukraine will fuel global food insecurity.

Prior to Russia’s invasion of Ukraine, both countries were major players on the world wheat market, accounting for 30% of global wheat trade. The invasion has raised significant concerns about future flows of grains from the region, and we now expect wheat prices to rise by almost 40% this year.

“We’ve found that developing economies in the Middle East and Africa, representing over 570m people who could, in a worst-case scenario, lose access to this wheat and be exposed to a severe humanitarian crisis.”

cody feldman, senior global analyst, EIU.

The war in Ukraine will also have a significant impact on global agriculture. Every region in the world depends on Russia for chemical fertilisers–a critical resource to maximise crop yields that is not easily replaceable. Sourcing fertilisers will prove difficult in the coming months, raising the risk of food insecurity.

Find out more about how the war in Ukraine is fuelling inflation and food insecurity in EIU Viewpoint, our new analysis service. EIU Viewpoint provides unmatched global insights for nearly 200 countries, six industries and 25 critical commodities, helping organisations identify prospective opportunities and potential risks.

Mon, 30th May 2022 Article tags Food securitySupply chainsUkraine crisisGlobal