With the world economy already shackled by Covid-related shortages and now reeling from Russia’s invasion of Ukraine, prices of such basics as bread, meat and cooking oils have jumped across the world, sending shock waves through the commodity markets and damaging the global food system.
Cases are at a record in Shanghai, now the epicenter of China’s worst outbreak since the start of the pandemic, and the lockdown has been extended indefinitely.
A measure of U.S. supply chain pressures rose to a record, adding to already stiff inflationary headwinds from logistics amid dwindling warehouse space and unprecedented inventory costs.
Behind-closed-doors discussions reflect a wide angst over whether to keep buying from Russia, as the industry weighs the stigma from the war against its own commercial interests — and the fact that vital metals like aluminum and copper were in short supply even before the invasion of Ukraine.
Robert Sutton, executive vice president of innovation with BNSF Logistics, discusses how supply chain service providers have pivoted to meet the needs of customers during the pandemic.
Russia’s invasion of Ukraine has disrupted the supply of almost half of the world’s sunflower oil exports, forcing companies to turn to less desirable alternatives such as palm oil in products ranging from potato chips to cookies.
The invasion of Ukraine has added to agita among electric-vehicle makers over the supply of nickel, a critical ingredient in EV batteries, since Russia is one of the world’s biggest producers.