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Suck My Glock said:https://www.msn.com/en-us/money/markets/russia-e2-80-99s-invasion-of-ukraine-will-likely-ratchet-american-food-prices-even-higher-experts-say/ar-AAUkLPh
Russia’s invasion of Ukraine could push U.S. food prices even higher, as the region is one of the world’s largest producers of wheat and some vegetable oils. And the disruptions could drag on for months or even years, as crop production in the area could be halted and take a long time to restart.
This new inflation shock comes at a time when global markets remain extremely strained because of pandemic-related disruptions. The price changes impacted commodity prices in recent days and could flow through to higher costs at grocery stores and restaurants soon.
Grocery manufacturers are concerned that, while the vast majority of ingredients and materials for American products are sourced domestically, the economic effects of Russia’s invasion of Ukraine will be global, according to Katie Denis, vice president of communications and research for the industry organization Consumer Brands Association.
I have witnessed Ukraine transform from a collapsing part of the Soviet Union to a liberal democracy and an open society. It has faced countless acts of Russian aggression, but has persisted. Brave Ukrainians are now on the frontline and risking their lives in an onslaught that reminds me of the siege of Budapest in 1944 and the siege of Sarajevo in 1993. It is important that both the transatlantic alliance (the United States, Canada, the European Union, and the United Kingdom) but also other nations do whatever is in their power to support Ukraine in its time of existential threat. Putin’s actions are a direct attack on the sovereignty of all States that were once in the Soviet Union, and beyond. Russia is in clear violation of the United Nations charter and should be held accountable. Allowing Putin to succeed on his quest will send a message across the world that nations can simply be created or dissolved by brute force. We must stand with Ukraine, as they stand for us.
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