TAIPEI (Taiwan News) — The government on Monday (March 14) assured the public of at least five to seven months of safe food staple supplies as Russia’s invasion of Ukraine threatens the “breadbasket of the world.”
The National Development Council (NDC) said the two countries are not main sources of commodity imports and that the conflict should have a limited impact on Taiwan’s food supply, per CNA.
In a report, the NDC said Taiwan imported neither soybeans nor wheat from Ukraine or Russia in 2021. The nation currently has a stockpile of 1 million tons of soybeans, sufficient for five months’ supply. The U.S. accounts for 90% of Taiwan’s wheat imports, and a reserve of 540,000 tons should be adequate for five months.
Last year, Taiwan procured a small portion of its corn from Ukraine, comprising a mere 1.64% of total imports. The 259,000 tons in storage should be able to accommodate domestic demand for seven months, the NDC added.
Meanwhile, the government has resorted to measures like tariff reductions and business tax exemptions to stabilize prices of staples affected by the crisis.
Ukraine and Russia together meet a third of the world’s wheat and barley needs. The war has sent prices of the grains surging and is expected to drive up the cost of bread, noodles, and animal feed. Ukraine has imposed restrictions on exports of wheat, oats, millet, sugar, meat, and live cattle in a bid to prevent a humanitarian crisis in the country, AP cited a Ukrainian government website as saying.