Ukraine Invasion Hits Gas Prices and Food Insecurity Varies
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**New satellite data shows that land surface sinking continued during California’s 2021 water year due to high levels of groundwater pumping.
However, the California Department of Water Resources reports the ground subsidence pace WAS LOWER than during past drought years.
Water Resources Director Karla Nemeth said, “It is good news that, compared to previous droughts, subsidence is slowing,” adding it’s important to recharge aquifers in wet months.
**The Russian invasion of Ukraine boosted fuel prices last week, for the ninth straight week.
U.S. fuel prices increased, with gas climbing 7.5 cents to an average of $3.59 per gallon … up 23.2 cents from a month ago and 87.6 cents higher than a year ago.
GasBuddy’s Patrick De Haan says, “The Russian invasion of Ukraine has sparked high level concern that oil production could eventually be stifled, or even sanctioned, leading to less supply as demand grows.”
**USDA Economic Research Service data shows food insecurity rates vary across the country.
The estimated prevalence of food insecurity during 2018–20
ranged from 5.7% in New Hampshire to 15.3% in Mississippi.
The estimated national average was 10.7%.
The prevalence of food insecurity was significantly higher than the national average in Alabama, Kentucky, Louisiana, Mississippi, New Mexico, Oklahoma, Tennessee, Texas and West Virginia.
