The export problems caused by the Ukraine war are driving up grain prices
Analysts fear a global food price crisis if attacks on terminals and ships and the paralysis of maritime exports continue.
Analysts fear a global food price crisis if attacks on ports and ships continue, disrupting maritime exports. Wheat prices have surged to almost three-year highs due to escalating attacks between Russia and Ukraine on Black Sea ports and commercial vessels. Russia, the world's largest wheat exporter, and Ukraine, the fifth largest, together cover around 30% of global demand, and their exports are expected to decline by 86 million tonnes this year.
The disruptions may lead to a significant increase in global food prices, exacerbating the pressure on food products caused by drought, El Niño, and fertilizer shortages.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
