Biden to highlight Russia-induced food price spike during farm visit


Band Jarrett Renshaw

May 11 (Reuters)US President Joe Biden will seek to highlight how Russia’s war on Ukraine has impacted global food prices during a visit to a Illinois closes on Wednesday.

He will also announce new measures to support U.S. farmers, including increasing the number of counties eligible for double crop insurance and increasing funding for domestic fertilizer production, according to the White House.

Biden struggling to contain inflation on many fronts. Gas prices in the United States hit record highs on Tuesday and the Russian invasion of Ukraine, which Moscow calls “a special army operation“, has significantly worsened the outlook for food prices.

Russia and Ukraine account for almost a third of the world’s wheat and barley, and two-thirds of the world’s exports of sunflower oil used for cooking.

Biden is “I’m going to talk about the support we need to continue to give to farmers to help them continue to produce more and more domestically in order to deal with the food shortages that we are seeing in some parts of the world,” the door-keeper said. White House floor, Jen Psaki. Tuesday.

Biden will also speak at the 40th International Convention of the International Brotherhood of Electrical Workers. Hit is expected at affirm his support for trade unions, infrastructure investment and the energy industry, Psaki said.

(Reporting by Jarrett Renshaw; Editing by Kenneth Maxwell and John Stonestreet)

((jarrett.renshaw@thomsonreuters.com; (646) 223-6193;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


nasdaq

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button