Experts say American shoppers will begin to see higher grocery bills as the war in Ukraine threatens global food supplies.
. While neither of these countries export wheat to the U.S. directly, their absence from the global market is expected to strain supply and push prices higher. All of this scarcity, from natural gas and crude oil to wheat and seed oil, will impact the cost of doing business for food manufacturers at home.
"Everything from getting food from the ground, to producing it, to storing it, to delivering, it all involves energy," Varroney said. "Natural gas is utilized to manufacture those foods. Then when you get past that? And you get into logistics, you've got a store, these food products, so there's gasoline to ship and there's electricity to store.""It’s energy costs that are going to choke consumers at every level as food companies need to stay competitive.
Robb MacKie, the president and CEO of the American Bakers Association , said bread makers are starting to feel the pinch of higher demand on their inputs. "A lot of ingredients come out of Ukraine, particularly wheat, oilseeds, barley and a number of other crops," MacKie told FOX Business. "The challenge is that that [region] is one of the top three wheat growing areas of the world. And if we're taking that out of production, which it looks like if the conflict goes much longer, that is going to happen. That's going to have a significant impact on the price of U.S. and Canadian wheat, which is what U.S. bakers primarily use.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia-Ukraine live updates: Ukraine rejects Kremlin’s call to surrender Mariupol amid intense street fightingAs the conflict enters its 26th day, the Russian military is approaching a stalemate in many other parts of the country, including outside Kyiv, the capital city.
Read more »
Russia-Ukraine updates: Ukraine defies Russian call to surrender MariupolNEW: 96-year-old Boris Romantchenko, who survived multiple Nazi concentration camps, was killed in the Russian bombardment of Kharkiv, Ukraine's foreign minister said. “Survived Hitler, murdered by Putin,” Foreign Minister Dmytro Kuleba wrote.
Read more »
Russia-Ukraine live updates: Russia pursuing 'strategy of attrition,' UK saysUKRAINE-RUSSIA LATEST: 🔷 Kremlin confirms it used hypersonic missiles in Ukraine 🔷 Ukraine says it has detained at least 562 Russian prisoners of war 🔷 At least 30 killed in strike on Ukrainian military base: witness
Read more »
U.S. imports little from Ukraine and Russia, but food and farming costs are expected to riseAnalysts say that the ripple effects of the conflict in Ukraine will further drive up U.S. food prices. And because Russia is a main producer of fertilizer, the conflict could affect what is grown on American soil.
Read more »
US and NATO officials struggle to decipher status of negotiations between Russia and UkraineUS and NATO officials believe Russian President Vladimir Putin has not backed off his original demands in talks with Ukraine, and there is a heavy dose of skepticism in Western capitals about how credible Moscow's engagement truly is -- even as the status of those negotiations remains difficult to decipher, according to multiple sources briefed on the situation.
Read more »
Pope asserts Ukraine right to defense in blasting Russia warPope Francis is denouncing the “perverse abuse of power” on display in Russia’s war in Ukraine.
Read more »