Biden: Expect ‘Real’ Food Shortages Due to Ukraine War Egypt, the world’s biggest wheat buyer, is cutting back on purchases as two of its largest suppliers are embroiled in a war that has driven prices to record highs. The country’s imports could fall to 11 million tons in the season that kicks off in July, according to a report from the U.S. Department of Agriculture’s Foreign Agricultural Service. That would be the lowest in nine years. The agency also pared its estimate for the current year to 12 million tons, 4% below USDA’s official forecast. The figures are a fresh example of how surging commodity costs are curbing demand in the wake of Russia’s invasion of Ukraine. Egypt has been struggling to maintain a bread subsidy program used by about 70 million of its citizens with the coronavirus pandemic hitting the national budget, and surging wheat prices are exacerbating […]