The Russian invasion of Ukraine has not only put a pause for the global economy but also for the production of food items, agriculture, farming, etc. Especially in India, the impact of the Russian invasion of agriculture has reportedly been affected. The UN council in its statement said that the impact has a close effect on the prices of crops and other utensils such as fertilizers, grains, and energy.
One of the experts in the UN council said an estimated 161 million more people are suffering from hunger than before the pandemic, totaling 821 million. UN said, each and every country should be carefully looked into the matter of the scarcity of their food availability.
As per reports, prices of wheat, maize, and soya beans have surpassed 2008 levels in recent days, with maize hovering slightly below prices of 2013 and soya beans reaching similar heights as in 2012. Grain and oil prices are fast approaching or even surpassing levels not seen since the 2008 food and fuel crisis.
Bangladesh is the country that mainly imports almost half its wheat from Ukraine and Russia. Before the invasion, prices of wheat have surged 55 percent. Ukraine also is a major supplier of corn and the global leader in sunflower oil, used in food processing. The war could reduce food supplies just when prices are at their highest levels since 2011.
Recently as per the data, crude prices touched a high of $139 per barrel, the highest since 2008. This has also pushed the price increase for food crops. The Food and Agriculture Organisation (FAO), a UN agency, has said Ukrainian farmers could miss the crucial May planting season for their crops. Supplies from Russia could also come under threat if the Kremlin curtails wheat exports in response to western sanctions.
Over the many years, there was no soar in hunger in the Asia-Pacific region. However, as the Russian invasion started, it fully-fledged and paved the way to push a price increase. Inequalities also are increasing, particularly between rural and urban populations, while too often women and youth are being left behind.
In the case of food price increase in India, the demand is on the high edge in the agriculture sector also. As India is acutely dependent on imports of edible oil and fertilizers, consumers may see prices of these soaring to painful levels. Besides, an impending shortage of fertilizers in the country ahead of the Kharif planting season can lead to unrest in rural areas.
However, as per reports, one in 10 people in the world already does not have enough food to eat, and the coronavirus problem is exacerbated because the epidemic has disrupted markets and food transport networks in developing countries and exacerbated poverty.