Cooking oil shortage

THE world has already begun to experience food shortages because of Russia’s invasion of Ukraine.

Over the past five years, Russia and Ukraine have accounted for nearly 30% of the world’s wheat exports, 17% of corn, 32% of barley and 75% of the planet’s sunflower seed oil.

The war means the price of flour and hence bread will increase sharply in weeks.

Panic buying of flour and pasta has already been reported across Europe.

The shortage of sunflower oil means that other oils will see their prices shoot up too because of demand.

Already, supermarkets in Spain and Italy are reporting shortages of olive oils with some introducing rationing.

Crisps and other foods fried in sunflower oil are likely to be affected too.

The corn that comes from Ukraine and Russia is typically used in animal feed and the supply of meat is also likely to be affected because of the shortage.