Harrop: Russia's war in Ukraine a growing agricultural concern
What will happen to the “bread basket of Europe” once the shooting in Ukraine stops? Russia is the largest and Ukraine is the fifth largest exporter of wheat. Together they account for 29 percent of the world’s annual wheat sales. The war has disrupted not only the harvests in Ukraine but also the ability of Russia to ship its wheat to other countries.
This will cause food crises through much of the world. Two of the most volatile regions, the Middle East and North Africa, are the most dependent on these two sources. But food prices everywhere will be under pressure.
Before Russia invaded Ukraine, wheat prices were already 49 percent above their 2017-21 average, The Economist reports. They’ve gone up another 30 percent since the war began.
The war will cut supply in several ways. Obviously, it will reduce harvests in Ukraine. But even if Russian wheat fields continue producing, the conflict will make it harder to export its grain, as noted above.
https://www.heraldnet.com/opinion/harrop-russias-war-in-ukraine-a-growing-agricultural-concern/
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