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Crop Price Surges Due to the Russian Invasion of Ukraine

최종 수정일: 2022년 7월 28일

June 30, 2022

Eric Choi

The Russian invasion has affected Ukraine's entire food production and supply chain: from sowing to harvesting to exports.

The Food and Agriculture Organization of the United Nations (FAO) estimates that between 20% and 30% of Ukraine's agricultural land will remain either unplanted or unharvested this year because of the war.

That's partly because large swaths of Ukraine's agricultural land -- around half of the area planted with winter wheat and about 40% of the area planted with rye -- were under Russian occupation in March, disrupting the sowing season.

But the war is also causing worker shortages, because of the vast numbers of people who have fled their homes or become involved in the volunteer units of Ukraine's armed forces.

International sanctions imposed against Russia over its invasion of Ukraine have also had an impact on global supplies of fuel, fertilizer, and produce.

Overall, this crop shortage caused by the Russian invasion of Ukraine is affecting the Third World in the severest way/degree.

According to the report, 71 million people were living on less than $3.2 a day in the three months after the war in Ukraine. Among them, the population with a daily living cost of $1.9 (about 2,470 won) increased from 624 million to 675.5 million, about 51 million people, and the population with a daily living cost of $1.9 or more and less than $3.2 increased by about 20 million. They are mainly concentrated in sub-Saharan Africa.

With concerns over crop conditions in the United States of America also adding support, world wheat prices rose sharply in March, soaring by 19.7 percent.

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