The African Development Bank (AfDB) says the cost of bread is now beyond the reach of many households in Africa due to food price increases caused by the Russia-Ukraine conflict.
Dr Akinwumi Adesina, the President of the Bank’s Group, said this in a speech posted on AfDB’s official Twitter handle on Thursday.
Adesina delivered the speech at the United States Senate Appropriation Sub-Committee on State and Foreign Operations with the theme: “Global Food Security and COVID-19 Crises: U.S. Response and Policy Options’’.
He said that Ukraine exported 40 per cent of its wheat and corn to Africa.
Adesina quoted the United Nations as saying “15 African countries imported more than half of their wheat, and much of their fertilisers and oil from Ukraine and Russia’’.
Adesina said the continent was also dealing with a 30 million metric tonnes loss of wheat and corn that would not come from Russia as the conflict raged.
According to him, the economic shocks from the Russian war in Ukraine are causing all of us to pay more to put food on the table.
“The magnitude of food price increases and trade disruptions caused by the Russian-Ukraine conflict have hit Africa harder than other developing regions.
“This is threatening to topple the continent’s food systems already stressed by the COVID-19 pandemic.