The world faces a food crisis

7 марта 2022
The situation around Ukraine is affecting French agriculture. A shortage of supplies from the two countries is going to bring up prices. If that happens, the world will face a food crisis. By the way, Russia accounts for almost 25 percent of all nitrogen fertilisers imported to Europe. Russia and Ukraine are also major exporters of grain, oilseeds, fuels, natural gas and fertilisers.


Record oil and gas prices


If the food crisis is still just a potential  threat, the skyrocketing cost of gasoline is a real concern for Europe. The price of gas is skyrocketing and, for the first time in history, it has surpassed $3,700 per thousand cubic metres. Against the background of statements about a possible ban on supplies from Russia to the US, the cost of oil is rising. It is already $139 a barrel. This is the highest value since 2008.