Food crisis looms as Ukrainian wheat shipments grind to halt (Financial Times)

Financial Times published an article stating that Russia and Ukraine supply almost a third of the world’s wheat exports and since Russia’s assault on its neighbor, ports on the Black Sea have come to a virtual standstill. As a result, wheat prices have soared to record highs, overtaking levels seen during the food crisis of 2007-08. While well-stored wheat can last several months, agricultural experts and policymakers have warned of the impact of delayed shipments on countries reliant on the region for wheat, grain, sunflower oil, and barley. Senior research fellow, Joseph Glauber said, “They’re going to have to find different suppliers and all that means higher prices.” Republished in Legal Insurrection.