The rise in agriculture costs have been laid bare with the cost of fertiliser, feed and energy all increasing dramatically in the past 12 months, according the .
at the eurasia group, how much of the current difficulties was down to russia s blockade of ukraine. i think the blockade is very significant. we see it as one of the main drivers of the rise in food prices that has happened over the last few weeks, but there are several others. we had covid related disruptions that predate the war, rising fertiliser costs, rising energy costs and of course logistical issues related to sanctioning and self sanctioning in tight shipping markets, so it is a confluence of factors that is driving the rise in food prices we are seeing. partly the blockade, but partly other issues. if the blockade were to be ended, if there were a way of getting the cargo outcome and there is a lot of it, clearly, how much of a difference will that make? i think the difference will be quite substantial. if we look at the estimates from the ukrainian minister of agriculture for the amount of plant that has been planted and fertilised for this year, it looks like production wi
but mountains of its grain, blocked from reaching the world s most hungry, could yet make that worse. faisal islam, bbc news in davos, switzerland. with me now is peter ceretti, who is a senior analyst at the eurasia group. they have issued their own report, food security in the coming storm. peter, thank you forjoining us. so we are talking about the weaponisation of famine, declaration of war on globalfood security, of famine, declaration of war on global food security, is how the head of the un world food programme called it. is it as simple as that? just how much damage is this blockade doing? yeah, i think the blockade is very significant. we see it as one of the main drivers of the rise in food prices that has happened over the last few weeks, but there are several others. we had covid related disruptions that predated the war, rising fertiliser costs, rising energy costs and of
suffering from severe food shortages. i think the blockade is very significant. we see it as one of the main drivers of the rise in food prices that has happened over the last few weeks, but there are several others. we had covid related disruptions that predated the war, rising fertiliser costs, rising energy costs and of course logistical issues related to sanctioning and self sanctioning in tight shipping markets, so it is a confluence of factors that is driving the rise in food prices we are seeing. partly the blockade, partly other issues. if the blockade were to be ended, if there were a way of getting the cargo outcome and there is a lot of it, clearly, how much of a difference will that make? i think the difference will be quite substantial. if we look at the estimates from the ukrainian minister of agriculture for the amount of plant that has been planted and fertilised for this year, it looks like production will be much better than we initially feared it would be in early 20
Governments are looking to ease the burden of soaring commodity prices on consumers, but a new wave of stimulus could spark a 70’-style wage-price spiral