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15 April 2022

Panicky Markets Are the Greatest Danger to Global Food Supply

Sarah Taber 

You might have seen some shocking numbers about how the Russian invasion of Ukraine has affected the global food supply—about how, for instance, Ukrainian and Russian wheat makes up a combined 20-30 percent of the world’s wheat exports. Yet the truth is there’s plenty to go around. We’re not facing a shortage; rather, we simply have enough wheat when we’re used to silo-busting gluts. The situation calls for math and common sense. But instead, wealthy countries have panicked. The fallout has landed on poor countries dependent on food imports, concentrated in the Middle East and North Africa. These countries now face hunger and political instability—not because there’s not enough food in the world but because wealthy countries lost their cool.

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