Food - Drink
What You Need To Know About Biden's Food Shortage Warning
Among its many consequences, the Russian invasion of Ukraine could result in global food shortages, a possibility President Biden acknowledged during a press conference with other NATO leaders. Shortages are “going to be real,” Biden said, with the impact of Russian sanctions impacting the US.
Although food shortages are a more pressing issue currently in Africa and the Middle East, worldwide wheat shortages are imminent. This is the issue G-7 leaders are trying to head off by loosening export restrictions, but the shortage, even if mitigated by these policies, is likely to affect the prices of everyday food items like bread.
The big problem domestically, is that rising food prices and tightening supply chains were already a major concern before Russia invaded Ukraine, and while there are no current shortages of wheat products in the U.S., the rising cost of other products is adding to already existing economic concerns.