As we all know, food prices are already soaring in the United States. If the shortages continue, food producers will be forced to increase prices even higher.
According to farmers, importers, and manufacturers, the cost of essential food such as bread, cookies, cereal, and pasta is likely to rise by between 4% and 50% over the coming months.
Russia and Ukraine produce more than 29 percent of the world's largest wheat supply. The Black Sea port in Ukraine is now closed, making it impossible to ship wheat and other agricultural supplies to the United States and other parts of the world. Nobody knows when they'll reopen or if they'll ever reopen or not.
Wheat prices have risen to their highest level since 2008, owing to growing concerns about a worldwide shortage as the Ukraine crisis has cut off almost 25% of its wheat exports, wheat used in everything from bread to cookies and noodles.
However, it is expected that the price of bread will rise by 10 to 20% and pasta by 50%.
British shoppers are already paying 20pc more for a loaf of bread because of a global shortage of wheat.
According to the US Labor Department, cereal and baked goods increased 6.8 percent in the previous year due to inflation.
In the United States, inflation has already reached a 40-year high. Cereal, bread, pasta, cookies, noodles are a few of the items that may face shortages or disappear totally from grocery store shelves this year.
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Disclaimer: This article is only for educational and informational purposes.