Ukraine’s corn and wheat exports are set to plummet, and this could have a significant impact on the global food supply. Russia’s ongoing invasion of Ukraine is causing a global shift in the trading of grains, which feed billions of people every day. The war in Ukraine has contributed to rising food prices, with inflation above 5% in more than 80% of low-income countries. However, while restrictions on exports from Ukraine have had an impact on food prices, rising energy and fertilizer costs are likely to have an even greater effect. Ways to prevent food shortages around the world are not straightforward, and reducing the grain used to produce ethanol by 50% in the U.S. might be one way to help.
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