Sanity must prevail as Ukraine war escalates food prices

The Russia-Ukraine war has already resulted in an abnormal escalation in global food prices, especially of staple grains and vegetable oils, which the UN's Food and Agriculture Organization (FAO) has confirmed as being all-time high. The UN now fears the risk of a global hunger crisis.

The conflict has sent prices of oil, gas and some other essential commodities spiralling out of control across the world, including in Bangladesh, causing inflation to rise further globally. The invasion has hugely disrupted the seasonal agricultural activities, production and shipment of food grains from the region as their ports remain closed since war broke out. Global food commodity prices went up by 12.6 percent in March to reach the highest levels ever because of the war. How high it will climb further if the war does not end any time soon is a question now worrying the experts. As Russia and Ukraine together account for around 30 percent and 20 percent of global wheat and maize exports respectively, it is doubly important that ports are given permission to operate and ships allowed to carry food grains on humanitarian grounds.

In an attempt to contain the situation, the Ukrainian authorities approached the European Union to provide aid to its farmers, and the European Commission has been asked to coordinate the delivery of fuel, seeds, fertilisers and agricultural machines to the country. Interestingly, in response to the rising global price of essential commodities because of the invasion of Ukraine and the imperative of export of food items, President Putin said his country would act prudently with supplies abroad, but monitor such exports to countries that are clearly hostile towards Russia.

At this stage, the possibility of famine must not be taken lightly by the world leaders, especially the Russian leadership. Hunger is conspicuously prevalent in many parts of the world where people are engaged in battles for survival on a daily basis, despite the spectre of climate catastrophe, flash-floods and drought hanging over their heads. In the food-deficient areas, people are breaking their backs to arrange for some decent meals for their family members, therefore, the new crisis is a burden that may prove too much for them. Russia being a superpower should cooperate with the world community in preventing the global food crisis going from bad to worse. Other world leaders should also step up and take measures to prevent such a terrifying scenario.