Pakistan facing the high impact of the global food crunch.

A spectacular spike in food prices is a double whammy for the impoverished stratum of society globally. There is no denying that the Russia-Ukraine conflict is the predominant factor in this regard. Russia invaded Ukraine in February 2022. Subsequently, food prices have skyrocketed over the course of the preceding ten months during the ongoing year. The worst is not over rather it is yet to transpire.

Russia as well as Ukraine, are major producers of staple food for the world. Russia and Ukraine together have approximately 30 percent of the global trade in wheat. Global wheat production for the marketing year 2022-23 is estimated to be 772 million metric tons. Russia with a production of 90 million tonnes is the world's largest wheat exporter. The Middle East and Africa in particular are the buyers of Russian wheat. Embattled Ukraine's wheat production for the marketing year 2022-23 is estimated to be mere 19 million metric tonnes, which is 41% less vis-a-vis the preceding year.

Natural catastrophes such as droughts, floods, torrential rains etc. have compounded the conundrums, to say the least.

Global rice production for the current fiscal year has shrunk in the wake of inclement weather events right from Asia to North America. Rice is the staple food for around 50 percent of the world's population, particularly...