Ukraine War is Forcing Poorer Countries to Subsidize Food Prices
The grain shortage from the Ukrainian war is forcing poor Middle East and African countries to subsidize food prices.
The shortage is pushing wheat, corn and oilseed prices sky high. India has offered to export more wheat. Producers in places like the U.S., Canada and Brazil will respond to the prices, but Iowa Senator Chuck Grassley says there is just not much more farmers can do.
“I don’t know how you make up 14-percent of the exports, or the production globally, coming out of Ukraine, but it’s a sizeable amount to make up. And I guess, I figure farmers plant pretty much, corn row to corn row, anyway.”
Russia and Ukraine produce nearly a third of the world wheat supply, and Senator Grassley says world humanitarian groups are very worried about global hunger.