President Joe Biden predicts that food will be in limited supply and more expensive than ever before, following the United States’ imposition of sanctions on Russia as a result of Russian President Vladimir Putin’s invasion of Ukraine.
Biden said on Thursday that the United States will face a food crisis in the near future, adding that it’s “gonna be real.”
“Yes, we did talk about food shortages, and it’s going to be real,” Biden stated during a news conference during the NATO summit in Brussels, Belgium. “The cost of the sanctions is not solely borne by Russia. It is also enforced on a large number of countries, including European countries and our own.”
Biden on food shortages:
“With regard to food shortage…it’s gonna be real.” pic.twitter.com/F3dQ7NLqqB
— TheBlaze (@theblaze) March 24, 2022
“Russia and Ukraine have been Europe’s breadbasket in terms of wheat,” Biden said, adding that he and other G7 leaders had a “long talk” about the need to “expand and disperse” food production.
Wheat prices have risen by 55 percent since a week before Russia invaded Ukraine. As millions leave or stay to fight in the war, Ukrainian ports that ship wheat and other food essentials throughout the world to be converted into bread, noodles, and animal feed have been shut down.
Ukraine is also a major grain exporter and the world’s leading producer of sunflower oil, which is used in food processing. The battle might diminish the global food supply, causing food insecurity and pushing more people into poverty in nations like Lebanon and Egypt, where bread is the staple diet.
It will also affect folks in the United States who live paycheck to paycheck and struggle to feed their families.
“It comes at an extremely terrible moment for American consumers because we’re seeing inflation approaching 10% every day,” supply chain specialist Dan Varroney told Fox Business.
“The figures for last month were close to 8%. As a result, customers will have to pay more for food, even those who are living paycheck to paycheck.”