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TMAY: Russia says it may cut gas supplies if oil ban goes ahead
2022-05-26
PRESENTATION

Russia and Ukraine, once dubbed "the breadbasket of Europe", export about a quarter of the world's wheat and half of its sunflower products, like seeds and oil. Ukraine also sells a lot of corn globally.

The head of the World Food Programme, David Beasley, has warned the conflict in Ukraine could send global food prices soaring, with a catastrophic impact on the world's poorest.

Ukraine and Russia are both major exporters of basic foodstuffs, and the war has already hit crop production, driving up prices

Mr Beasley said it was putting more people at risk of starvation worldwide.

"Just when you think hell on earth can't get any worse, it does," he said.

Russia and Ukraine, once dubbed "the breadbasket of Europe", export about a quarter of the world's wheat and half of its sunflower products, like seeds and oil. Ukraine also sells a lot of corn globally.

Analysts have warned that war could impact the production of grains and even double global wheat prices.

Mr Beasley told BBC World Service's Business Daily programme that the number of people facing potential starvation worldwide had already risen from 80 million to 276 million in four years prior to Russia's invasion, due to what he calls a "perfect storm" of conflict, climate change and coronavirus.

He said certain countries could be particularly affected by the current crisis, due to the high proportion of grains they currently import from the Black Sea region.The head of the World Food Programme, David Beasley, has warned the conflict in Ukraine could send global food prices soaring, with a catastrophic impact on the world's poorest.

Ukraine and Russia are both major exporters of basic foodstuffs, and the war has already hit crop production, driving up prices

Mr Beasley said it was putting more people at risk of starvation worldwide.

"Just when you think hell on earth can't get any worse, it does," he said.

Russia and Ukraine, once dubbed "the breadbasket of Europe", export about a quarter of the world's wheat and half of its sunflower products, like seeds and oil. Ukraine also sells a lot of corn globally.

Analysts have warned that war could impact the production of grains and even double global wheat prices.

Mr Beasley told BBC World Service's Business Daily programme that the number of people facing potential starvation worldwide had already risen from 80 million to 276 million in four years prior to Russia's invasion, due to what he calls a "perfect storm" of conflict, climate change and coronavirus.

He said certain countries could be particularly affected by the current crisis, due to the high proportion of grains they currently import from the Black Sea region.

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Luc Brucher

Life Sciences & Healthcare industry Leader


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