With supply chain issues already slowing food shipments around the world, it's good to know the U.S. has home-sources for grain - which these two countries are known for exporting. Russia and Ukraine are major global suppliers of wheat and barley and their current growing disruptions could drag on. Dr. Welch saying "We do not rely on them as suppliers --- Russia and Ukraine are our competitors in the global market place."
Both also export fertilizer. Texas A&M Grain Economist Dr. Mark Welch: "Fertilizer manufacturers in North American are doing all they can do to ramp up production to meet that demand...and now the -perhaps- restrictions on imported fertilizer - and other agricultural products - is adding to the demand." Dr. Welch says the U.S. already exports as much grain as it keeps but the price of domestic fertilizer will rise as the demand grows both domestically and globally. "Certainly there will be some concern and higher prices for a lot of basic food products."
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But still the cost to manufacture and ship grocery products is rising, and U.S. grain farmers are concerned about planting time. "Russia is a considerably large supplier to the U.S. of fertilizer and as we're nearing planting time - it's adding to that concern." Dr. Welch says global demand for U.S. grain will grow, as will the price of the grain and the products it makes.
...and who knows how long it will last.
photo:GettyImages
Russia and Ukraine are major suppliers of grain to the world.