War spawns fears of global food crisis (CNN – New Day Weekend) 

CNN – New Day Weekend produced a video stating that the economic fallout of Russia’s invasion of Ukraine is being felt all over the world, not only with a spike in gas prices but now prices for key agricultural products used in the region are skyrocketing and there are fears of a potential global food shortage. Senior research fellow Joseph Glauber said, “Prices were nearly at record levels before the war. The inability to export out of that region has been hampered and it has affected prices, up by nearly 50 percent in the last few weeks.” He added, “First of all, it’s important to know, we’re not going to run out of wheat. There’s a lot of wheat in the world. Supplies are really tight and prices will reflect that. Countries in North Africa and the Middle East will be most affected. Bread consumption is higher in that area and most of the wheat comes from the Black Sea port. Those countries are scrambling to find supplies from other big wheat producers.”  He said, “The West can lessen the impact by first, ‘do no harm.’ During past food price crises, the situation was exacerbated by export bans. That was good for that country but made global supplies that much tighter. It will probably take two years for any sort of recovery and that assumes that Ukraine and Russia will be back on line and exporting as before.”