As the war continues in Ukraine, the impact on global agriculture will have prolonged affects, including food inflation, limited fertilizer supplies, a European recession and fundamental changes in supply chains. The conflict adds another layer to existing pressure on the agriculture industry from the COVID-19 pandemic and the EU’s Farm to Fork Strategy, which aims to reduce the environmental and climate impact of production. Food inflation is likely to hit levels not seen in 20 plus years, Kottmeyer said.  With the food inflation that currently exists and the likelihood it will get worse, there is severe pressure on fundamental stability in northern and west Africa, he said.  The problem compounds further if there is another COVID outbreak, or another problem to top the ones that already exist, he said.

Ukraine war to have lasting impact on food inflation, supply chain