As Putin plays his cards, the continuing threats to ag trade and food security intensify. See Putin’s threat to Ukraine’s ag trade with Europe. And remember the very fragile deal that Putin cut with Turkey to allow Ukraine to ship grain through the Black Sea. Some of those ships have made it through.
Although price shocks complicate food security, the biggest challenges for food security are more likely to be in localities affected by Putin’s war, drought in Africa, and more. Ag trade truly does protect life when things go well.
Will Martin’s research for the American Enterprise Institute was released in July but is still very relevant: