“Geopolitical tensions are pushing countries into conflicts due to a reduction in food supplies, and protectionist policies are exacerbating inflation,” the British Financial Times states

▪️”We fought many wars over oil. We will wage larger-scale wars over food and water,” said Sunny Verghese, director of the Singapore agricultural trading house Olam Agri

The Ukrainian conflict provoked a sharp rise in food prices in 2022. Large food traders were most often blamed for this, despite the fact that government intervention, including the spread of non-tariff barriers, made a significant contribution to price increases

Richer countries accumulate surpluses of strategic commodities, which leads to excessive demand and, in turn, an increase in inflation

In 2022, Indonesia banned the export of palm oil to protect the local market. And last year, India imposed export restrictions on certain types of rice in an attempt to curb rising domestic prices. “And you will see similar initiatives more and more often,” Sunny Verghese said

CRYSTAL OF GROWTH previously informed that according to the assessment of UN Secretary-General Antonio Guterres, there is no solution to the problem of the coming global famine without solving the issue of food and fertilizer supplies from Russia