The global food crisis is inevitable. The WTO announcement that makes us shiver

The global food crisis is inevitable. The WTO announcement that makes us shiver

Specialists from the World Trade Organization (WTO) point out that the war in Ukraine will have catastrophic consequences for the global economy.

The food crisis is inevitable, say WTO experts BBC.

The World Trade Organization (WTO) has forecast its growth in world trade for this year, from 4.7% to 2.5%.

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The global food crisis is inevitable, the WTO announcement that makes us shiver

Dr Ngozi Okonjo-Iweala, the head of the WTO, said food would become more expensive because of the war between Russia and Ukraine. , very significant in certain sectors ”.

“The first concern, of course, is for the people of Ukraine, who are displaced and do not have enough food,” Okonjo-Iweala said.

She added that the world economy “will suffer serious consequences” and said that poorer countries will feel the full impact of the shortage and “constraints on food supply”.

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The invasion of Ukraine by Putin’s army has affected many food supplies, including wheat and corn. European countries are already facing a shortage of sunflower oil. In total, 46.9% of global exports come from Ukraine and 29.9% from Russia, according to S&P Global, but with closed ports, Ukraine is struggling to export.

The WTO chief says he hopes to find solutions to supply problems. She said that in the short term, countries could “change their food tastes” to consume more local products.

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In addition to rising food prices, the cost of other commodities has hit record highs amid war worries and economic sanctions on Russia, which will lead to supply disruptions.

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