A major wheat shortage is coming in the United States

Alissa Rose

As we all know, some situations are getting worse day by day in the United States because of the conflict between Russia and Ukraine.

The Russian-Ukrainian conflict has also massively affected the global commodities market. Russia is the world's biggest wheat exporter, with Ukraine coming in fourth. They collectively account for 30% of global wheat exports, 19% corn exports, and 80% sunflower oil exports.

On Tuesday, the price of wheat rose to 5.35 percent costing US$10.28, reaching prices not seen since 2008. Corn hit a high of 5.06 percent, costing US$ 7.25, while soybeans gained 2.55 percent, costing US$ 16.78 per bushel. Rising prices will cause wheat to become more expensive for food producers, which will most likely be passed on to consumers.

According to the US Labor Department, cereal and baked goods increased 6.8 percent in the previous year due to inflation.

According to Food Dive, the conflict may lead to 20 to 30 percent increased corn and wheat prices. As a result, suppliers struggle to pay more to produce their products, like baked products, pasta, packaged mixes, etc.

Such shortages impact more than just the number of bags of flour on American supermarket shelves. According to AP News, rising prices in corn, sunflower oil, and wheat will impact goods such as processed foods and meat.

The repercussions of the impending shortage are already being felt around the world. The price of a piece of bread in the United Kingdom has already risen by up 20pc in anticipation of a global wheat shortage. As long as political and military conflicts continue worldwide, this is likely to happen.

In the United States, inflation has already reached a 40-year high. Cereal, bread, and pasta may be added to a long list of products facing shortages or disappearing entirely from grocery store shelves this year.

What do you think about the wheat shortage? If you think more people should read this article, share it on social media and with your friends and family.

Disclaimer: This article is only for educational and informational purposes.

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