The Ukraine war upended the global economy in many ways. Energy markets have been among the most affected, with declining Russian oil and natural gas exports to the West sparking a domino effect of fuel crises worldwide. But the war has also warped another critical facet of the global economy: food.
Prior to the war, Russia and Ukraine were global breadbaskets as top producers and exporters of wheat, sunflower seeds, and barley. The fighting ended up aggravating hunger and food crises in low-income countries that are dependent on imports. But both Russia and Ukraine are also key cogs in the global fertilizer industry, and the war has triggered a shortage of the critical commodity that few people consider but is nevertheless essential to global food security.
