Russia-Ukraine Invasion
Out of context: Reply #351
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- monNom0
Food insecurity might become a thing
https://ca.finance.yahoo.com/new…Hungary (12th in the world for grain export) has banned the export of grain.
Argentina looking to limit. Bulgarian exports stalling at port. Indonesia curbing palm oil exports.Why does this matter?
1. Ukraine was a large exporter of grain and oils. Worldwide, the same number of people still need to eat, so traders will look for alternative (secure) sources. That will vacuum up food from wherever it's cheapest, and may lead to domestic supply problems.
2. Russia (the largest exporter of grain) now has difficulty moving product to market, as shippers avoid Russia due to uncertainty around sanctions, insurance, payment. All this and drought in the middle east and north africa leading to higher than usual grain imports.
3. Russia ceased export of fertilizer. This means grain production becomes much costlier. This is on the backdrop of pre-war fertilizer prices rising by as much as 200% already for this growing season, with farmers fallowing land due to fertilizer prices that make their crops uneconomic. That price rise was due to natural gas prices rising in Q3/Q4 last year and European fertilizer plants shuttering production. This year's crop is likely to be smaller than previous years, amplifying the shortfall and increasing prices worldwide.- Four horsemen of the apocalypse
plague ✔
war ✔
famine ✔
wild beasts...drgs - more on the Middle-East North-Africa thing
https://www.aljazeer…monNom - Wasn't the so-called 'Arab spring' in part brought about by increased wheat prices?Nairn
- It was. Hangry on a mass scale does not end well.monNom
- fertilizer production depends on gas just sayin********
- Four horsemen of the apocalypse