Global Food Security
Hello Everyone!
On July 16th we recorded our second episode, looking at Food Insecurity (which will be released this week). Shortly afterwards Russia announced that it was backing out of the Black Sea grain deal (previously allowing the export of Ukrainian foodstuffs via ports on the Black Sea), choosing not to renew the agreement.
Russia has stated that it vetoed the extension because of its inability to export its own foodstuffs due to shipping and insurance issues (stemming from foreign sanctions applied to Russia in response to their invasion of Ukraine). Then this morning (July 17th) we had reports that Ukraine allegedly attacked the Kerch Strait Bridge, damaging the structure (this is the key rail and road link from mainland Russia to the Crimean Peninsula).
The Black Sea deal was brokered with the help of the United Nations (UN) and Turkey, but recent relations between Moscow and Ankara have been strained, despite earlier Turkish support. Much of this has to do with President Erdogan’s ambitions in the region and Turkey exploiting its advantages in light of NATO’s desire for Finland and Sweden join the alliance. The impact to the global food markets is significant.
The UN stated that since the agreement’s implementation (on July 22nd, 2022) global food prices stabilized, and over 32 million tonnes (approximately 35 million US tons) of food commodities have been exported to 45 countries. Now with this suspension of the agreement, the UN believes that there will be an immediate impact globally, seeing rising prices for staples such as bread and pasta, and longer-term issues in countries reliant on large quotas of imported food. Ukraine’s attack on the Kerch Strait Bridge will likely incur a strong Russian response, and make any attempt to re-broker the Black Sea deal very difficult in the short-term.
In our Food Security podcast, we focus on the direct correlation between food insecurity and increased social disorder. Likewise, wars are a key driver of food insecurity – coupled with the recent Covid pandemic, and a breakdown in the Globalist trading system – we are looking at increased stress on the geopolitical and economic situation.
There is increased food instability in our near future.
The Canary Group
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