While President Joe Biden and his administration continue to push the lie that dramatically rising prices of oil, gas, and food are the result of Vladimir Putin’s invasion of Ukraine, the reality is “Bidenflation” has been a thing practically since Inauguration Day in January 2021.
Inflation has been a concern for the better part of a year, and while for months Biden admin officials claimed it would be “transitory,” the fact is higher prices are here to stay for the time being — months, in fact, if not years — thanks to a confluence of factors, none of which are improving under the ‘leadership’ of Barack Obama’s vice president.
But as high as prices have risen thus far, they are set to rise even higher — a lot higher — and that is especially true when it comes to food, which will, of course, hurt Americans on the lower end of the wage scale, the group Democrats claim to care about the most.
The Daily Wire reports:
As Russia’s invasion of Ukraine enters its second month, consumers already burdened by record inflation rates could soon see yet another spike in the cost of essential goods — this time groceries in particular.
Before the war, Russia led the world in wheat exports, earning billions each year while supplying nearly a fifth of the world’s grain. Ukraine, too, was a leading exporter, exporting more grain than all but four nations. However, as the bloody conflict continues, the two nations — which together account for a quarter of the world’s wheat exports — have begun keeping the product for themselves.
As Russian forces pound their cities and grind up neighborhoods, the government of Ukrainian President Volodymyr Zelenskyy ordered agricultural exports halted and wheat stockpiled to ensure his people are fed and that the war effort can be supplied. Meanwhile, Russia has cut wheat exports to former Soviet-bloc nations as well as others to “protect the domestic food market in the face of external constraints,” Prime Minister Mikhail Mishustin said recently, no doubt alluding to the wave of economic sanctions put on his country following the invasion late last month.
“With roughly 25% of the global wheat supply essentially disappearing over the course of a month, prices on the remaining wheat have skyrocketed, and that’s bad news for consumers,” The Daily Wire reported. “Over the past month, the grain market has seen such volatility that many farmers — despite having a product suddenly in short supply — are struggling to find buyers due to near-unprecedented spikes in the futures market of the commodity.”
Meanwhile, U.S. grain production is also way down, thanks to at least two consecutive years of worsening drought.
Reuters reported this week:
Some farmers in southwestern Kansas, the top U.S. wheat producing state, have not received much measurable rain or snow since October. Winter wheat is planted in autumn, lays dormant in winter and begins sending up green shoots in spring. Proper soil moisture is critical at this stage for the crop to thrive.
More than half of Kansas was classified as under severe drought or worse as of March 8, the driest conditions since 2018, according to the National Drought Mitigation Center. Severe drought is also covering three-quarters of Oklahoma and more than two-thirds of Texas, both of which also are large wheat producers.
“As of March 6, just 24% of Kansas’ wheat crop was in good condition or better, while 39% was rated poor to very poor, according to the U.S. Department of Agriculture. That is the lowest rating for this point of the season in four years, the agency’s data shows,” the report added.
In an interview with The Daily Wire, Joel Griffith of the Heritage Foundation broke it all down.
“When you see Russia or Ukraine constrict the exports of fertilizer, that’s going to drive up prices on production across the globe. And we’re already seeing big increases in food,” he said.
“This is going to have an increase, not just on the price of wheat, but if we don’t have the fertilizer to the same quantities, it’s going to drive the price of corn, for instance, and a lot of our beef… So this is going to have a ripple effect throughout the entirety of our food supply.”
Now, the really bad news? The Biden team doesn’t have a clue about how to fix any of this.