Pork prices may rise due to Russia-Ukraine war
Various issues, including importing pigs, could cause pork prices to increase globally
The global impact of the Russia-Ukraine war is still revealing itself.
Over the past week, leaders in the food industry have reported concerns that certain items may see significant price increases due to the conflict. That region of the world exports high volumes of various food items and the war will likely disrupt these supply chains.
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Pork prices may increase in certain parts of the world due to the Russia-Ukraine war. (iStock)
The UK Department for Environment, Food and Rural Affair's minister Victoria Prentis recently spoke out about the situation, the Guardian reports. According to her, the price of pork is likely to see significant increases in the United Kingdom.
Prentis explained that her department has been trying to figure out ways to handle any issues with the supply chain.
"I’ve been talking to the pig industry," she said, "a very, very difficult supply chain at all levels, are we prepared to buy more British high-welfare pigs? We will have to pay more."
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Since Ukraine is known as the bread basket of the world, food manufacturers are bracing for wheat and grain prices to increase. (iStock)
Pork is just the latest food item to be impacted by the war.
FOX Business previously reported that an increase in grain prices is also expected. Ukraine is often referred to as the bread basket of the world due to the high amount of grain grown in the region.
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Some beer makers may have to raise prices due to an increase in the cost of grain and wheat. (iStock)
Due to the war and the resulting supply chain issues, exporting is likely going to become more expensive, forcing buyers to have to seek alternate sellers. This could result in sellers raising their prices to handle the increased demand.
Meanwhile, some products like beer are also expected to see price increases. While some major manufacturers are expected to be ok, smaller brewers may struggle to obtain the types of grains needed to make specialty beers.