You saw only two years ago what it looks like when people panic about food or basic home goods like toilet paper. Bare shelves are not an enjoyable sight. Now the war in Ukraine is having that effect on Middle Eastern nations like Egypt and Turkey that import sunflower oil and wheat from the fertile fields that drain into the Black Sea. TIME outlines the panic buying in stores as prices surge, writing:
Worries about surging sunflower oil prices triggered heavy buying over the weekend in Turkey, as footage of citizens trying to grab tins of cheaper oil at one store went viral. In Egypt, the world’s biggest wheat importer, prices for some unsubsidized bread have jumped in the past week.
The war has already driven wheat prices 70% higher in Chicago this year and is threatening to upend global food trade. Russia and Ukraine are vital suppliers of grains, vegetable oil and fertilizers, which means that supply disruptions will be felt all over the world. Wheat prices have surpassed levels last seen during the 2008 global food crisis—which helped spark widespread protests—and a United Nations index of food prices hit a record in February.
The shockwaves in global crop markets from Russia’s invasion of Ukraine are now spreading to store shelves.
Worries about surging sunflower oil prices triggered heavy buying over the weekend in Turkey, as footage of citizens trying to grab tins of cheaper oil at one store went viral. In Egypt, the world’s biggest wheat importer, prices for some unsubsidized bread have jumped in the past week.
The war has already driven wheat prices 70% higher in Chicago this year and is threatening to upend global food trade. Russia and Ukraine are vital suppliers of grains, vegetable oil and fertilizers, which means that supply disruptions will be felt all over the world. Wheat prices have surpassed levels last seen during the 2008 global food crisis—which helped spark widespread protests—and a United Nations index of food prices hit a record in February.
In Turkey, sunflower oil is the main cooking oil and a key component of food spending. Images of a 18-liter tin being sold for 989 liras ($69) spurred debates on the cost of living, while the item wasn’t available at all on the websites of some grocery chains.
The concern over sunflower oil prices is related to imports stuck at ships at the Sea of Azov, the northeastern tip of the Black Sea, according to Ahmet Atici, secretary-general of the Vegetable Oil Industrialists Association.
“Russia should let those ships go,” Atici said. The group sent a letter to the Trade Ministry earlier this month, warning that current supplies may last only to mid-April.
Action Line: You never want to be the last person to the store in a food panic. Proper prepping ahead can put your mind at ease when others are facing an unknown future. You can’t save the world in a weekend, but with a steady focus on preparing your family for the future, you can drastically improve your situation in any disaster. Start your prepping with a focus on securing a clean water supply for you and your family. Click here to download my free special report Emergency Water Storage: How Much, Containers, Purification & More. Your family deserves a supply of fresh, clean water in any disaster, and you can give it to them if you act now.
