Invasion of Ukraine puts world food supply at risk, says Norwegian Yara

Russia’s invasion of Ukraine threatens the world’s food supply, warned Norwegian fertilizer maker Yara International, adding that the international community must reduce its dependence on Russian raw materials for agriculture.

Ukraine and Russia they are major exporters of some of the most essential foods, together accounting for about 29% of global wheat exports, 19% of global corn supplies, and 80% of sunflower oil exports.

But Russia it also exports nutrients for crops, as well as natural gas, which is essential for producing nitrogen-based fertilizers. Yara said that, in total, 25% of Europe’s supply of nitrogen, potassium and phosphate – crucial nutrients for crops – comes from Russia.

“With unbalanced geopolitical conditions, the largest sources of raw material for food production in Europe are subject to limitations and there are no alternatives in the short termYara said in a statement.

The Norwegian company, one of the world’s largest fertilizer producers, supplies Ukraine’s agricultural sector and is a major buyer of Russian raw materials such as phosphate and potash. The country also supplies natural gas to European nitrogen fertilizer plants.

David BeesleyExecutive Director of the World Food Program (LDC), claimed last week that the war in Ukraine would have a dramatic impact on the logistics of reaching the 120 million people it feeds, adding that the costs of food, fuel and shipping “they would shoot”, in what he described as “an absolute catastrophe”.

Wheat futures have soared in recent days on concerns that the Russian invasion of Ukraine, which began on February 24 and is called by Moscow a “special operation”, continue to affect grain shipments from the Black Sea region.

“One possible consequence is that only the most privileged part of the world’s population has access to enough food.Yara said, adding that while high prices may have a short-term positive impact on profits, they will mean an unsustainable food system, leading to long-term hunger and conflict.

“Therefore, it is crucial that the international community come together and work to secure global food production and reduce dependence on Russia, even though the number of alternatives today is limited.Yara said.

Fertilizer prices rose sharply in the final months of 2021, following rising natural gas costs. This, in turn, is causing food prices to rise, which could lead to famine for the most vulnerable populations, Yara warned in October.