Record price hikes could soon see another huge spike — this time on wheat-based grocery items in particular — as Russia’s invasion of Ukraine coincides with the crop season for one of the world's most essential food sources.
Fifteen percent of all global calories come from wheat and rice, and one-third of the world’s wheat comes from Russia and Ukraine. The crop season for wheat is right now, but very little farming currently is occurring as Russia’s invasion of Ukraine drags on for a second month.
On the radio program, Glenn Beck broke down the importance of this statistic — plus many more — and explained why these numbers could even point to a possible famine by the end of the year.
"When you're looking at food, understand that 15 percent of all global calories come from wheat and rice … and one-third of all of our wheat comes from Russia and Ukraine," Glenn explained. "The next stat you need to understand is ... the supply chain for food is 90 days. We have 90 days worth of food in the supply chain and ... if it stops, let's say for some reason stop all farming, we would have 90 days left of food worldwide. Okay? Now, 25 percent of all global production is food. We're about to lose 12 percent of that production. That means, we're losing half of our food supply," he added.
"Now, the bigger problems [are] fertilizer and energy. The energy price to run the tractors, to run the trucks, to run everything else. And the price of phosphorus, potassium, and nitrogen. Those are the three major things we use to make fertilizer ... this is causing so much stress on the farmers that farmers all around the world are not planting their fields. They are reducing the acreage, because without fertilizer, you're not growing much. So why plant all those fields?" Glenn continued.
"So far, the price of corn has doubled. Soybeans [and] wheat are skyrocketing. The strategic food reserves, in some parts of the world, are now opening," he warned. "We'd better have perfect weather all over the world, because if things continue the way they are and don't turn around quickly, hundreds of millions of people will experience famine by the end of the year."
Glenn went on to detail what you can do now to prepare. Watch the video below to hear Glenn break it down. Can't watch? Download the podcast here.
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