Sanctions Imposed on Russia Adversely Impacting U.S. Farmers and Consumers, Explained by Wells Fargo
March 11 2022 - 11:00AM
Business Wire
Wells Fargo & Company (NYSE:WFC):
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220311005221/en/
Wells Fargo's Chief Agricultural
Economist Dr. Michael Swanson (left) and Agricultural Consultant
Lon Swanson (right) (Photo: Wells Fargo)
What:
Broadcast-ready video commentary on the
impact of rising wheat and fertilizer prices stemming from the
Ukraine/Russia conflict, featuring Wells Fargo Chief Agricultural
Economist Dr. Michael Swanson and Lon Swanson, Wells Fargo Food
& Agribusiness Industry Advisors Sector Leader.
Why:
Higher prices nationwide are being felt by
consumers and farmers. With Russia and Ukraine together growing 14%
of the world's wheat1, and Russia accounting for up to 45% of the
key nutrients used for fertilizer in the world2, consumers are
feeling the pinch at the grocery store, including higher-priced
breads, meat and milk. U.S farmers are also experiencing the pain
of continued pressure on fertilizer prices, often costing more
than the rent for the land on which they farm3.
Where:
Video news clips on Wells Fargo
Newsroom
Time codes for video clips:
0:19 – 0:44 What do rising wheat prices
mean for our grocery bills?
0:49 – 1:06 How does the conflict in the
Ukraine affect our wheat prices?
1:11 – 1:25 How does that affect us at the
grocery store?
1:35 – 2:04 How is the conflict affecting
fertilizer prices?
2:10 – 2:49 How does this affect the U.S.
consumer and farmer?
2:51 – 3:21 Where will the average
American consumer see these price increases?
3:33 – 3:50 Do prices go up immediately or
at harvest?
1 Food Agricultural Organization of the United Nations 2020
production year 2 Green Markets Fertilizer Price Index 3 University
of Minnesota Center for Farm Financial Management
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220311005221/en/
Sarah Hatch, 618-407-0953 sarah.hatch@wellsfargo.com
@SarahHatchABQ
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Jul 2024 to Aug 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Aug 2023 to Aug 2024