Home Indiana Agriculture News Russia’s War in Ukraine Continues to Affect Food and Fuel Prices

Russia’s War in Ukraine Continues to Affect Food and Fuel Prices

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Lifting cargo cranes, ships and grain dryer in Sea Port of Odessa, Black Sea, Ukraine. Photo: Adobe Stock.

Russia’s ongoing war against Ukraine continues to affect the price of what you’re paying for food and fuel.

Russia has been blocking Ukraine from exporting its grain, and sanctions against Russian oil have caused gas and diesel prices to skyrocket.

All of this makes it even more important for farmers across the U.S. to boost corn and wheat production to not only keep food prices from continuing to climb, but also to help provide food supplies throughout the rest of the world.

Food prices are up ten to 20 percent in the U.S. and around the world. In addition, USAID is warning that the lack of grain exports from Ukraine may lead to famine in ten countries.

“We can help our farmers increase their yield. And even just a bushel increase in yield above and beyond what their normal baseline is, what they would normally expect to be able to produce, may be a life saved somewhere in the world,” according to Rep. Glenn ‘GT’ Thompson (R-PA), the ranking Republican on the House Ag Committee.

At home, fuel and fertilizer prices continue to affect farmers’ profits and are causing rural Americans to spend much more at the gas station and grocery store.

“In rural areas, inflation is up 130 percent more than that of urban areas, according to the Congressional Budget Office. In rural America, we have to pay five dollars a gallon to drive 60 miles, just to go to work—not three miles,” says Rep. Jason Smith (R-MO).

Russia is accused of “weaponizing hunger” with its blockade of Ukraine’s ports, while some farmers throughout Ukraine are still trying to harvest crops wearing helmets and bulletproof vests.

Ukraine is one of the world’s top wheat suppliers, but an estimated 20 million tons of grain have been trapped in silos since Russia invaded the country in February.  European Union foreign policy chief Josep Borrell referred to Russia’s blockade of Ukrainian grain as “a real war crime.”

Click BELOW to hear C.J. Miller’s report on how Russia’s ongoing war in Ukraine continues to affect food and fuel prices.

Source: NAFB