Chinese officials warns that nation’s winter wheat condition could be “worst in history”. //

While oil prices are exploding, and petroleum products are certainly a necessity in modern life, there is a potential developing crisis that could impact the global economy even more than energy.

As Russia continues to pound Ukraine, it is important to note that the region is responsible for about 1/3 of the world’s grain supplies. //

The stability of regions even more dependent on Russian-Ukrainian wheat is threatened.

Cairo relies on large volumes of heavily subsidized imports to ensure sufficient as well as affordable supplies of bread and vegetable oil for its 105 million citizens. Securing those supplies has led Egypt to become the world’s largest importer of wheat and among the world’s top 10 importers of sunflower oil. In 2021, Cairo was already facing down food inflation levels not seen since the Arab Spring civil unrest a decade earlier that toppled the government of former President Hosni Mubarak.

After eight years of working assiduously to put Egypt’s economic house back in order, the government of President Abdel-Fattah el-Sisi is now similarly vulnerable to skyrocketing food costs that are reaching budget-breaking levels. //

War – check.
Pestilence – check.
Famine – This looks like the next horseman lining up to make an appearance.

But the good news: No mean tweets. We can take comfort in that.