Satellite imagery ‘illustrates spectre of rising food prices and hunger’ due to invasion of world’s sixth-largest wheat exporter
, owing to the direct impact of the war on wheat production, as well as higher energy and fertiliser prices around the world. These costs were already rising before Russia’s invasion, but have been sent soaring further as countries have moved to cut imports of oil and gas from Russia.
Carlos Mera, an analyst at Rabobank, said prices would remain high as it was unlikely leading global producers would be able to increase production significantly, because of high fertiliser prices and pressure to grow other crops where prices were also rising. He added: “It is not just a question of how much wheat Ukraine will harvest but how much it will manage to export. Normally 90% of grain exports flow through ports into the Black Sea but we are not going to see that [because of Russian military action].” He said exports via train had also been affected by attacks on railway lines..