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Avoiding Global Famine in the Wake of the Ukraine Crisis
March 17, 2022 | Chart
Major disruption to Russian and Ukrainian grain production and exports would render a blow to global food supply. Russia and Ukraine together produce 6 percent of cereals as a share of world output, but combined supply 16 percent of global exports of grains. What matters most in the other economies that are needed to step in immediately to feed the world is not production but stockpiles that can be tapped for exports, and the capacity of internal infrastructure and labor to facilitate ramped up trade. India, the US, and the EU appear uniquely positioned to step in to feed the world.
For more information about the impact that the Ukraine Crisis may have on global grains trade please see our new report, What If Russia, Ukraine Grain Trade Halts?
AUTHOR
Dana M. Peterson
Chief Economist and Leader, Economy, Strategy & Finance Center
The Conference Board
