World: FAO with two scenarios for shock grain prices due to the war in Ukraine

Published 2022년 3월 28일

Tridge summary

The ongoing conflict between Ukraine and Russia, two major agricultural exporters, is disrupting the global market, with the United Nations Food and Agriculture Organization (FAO) calculating the impact on trade and crop sowing. Prior to the conflict, the two countries were among the top exporters of wheat, corn, rapeseed, sunflower, and sunflower oil, and Russia was a leading supplier of nitrogen, potassium, and phosphorus fertilizers. The disruption in exports and economic sanctions could lead to significant shortages and increases in food prices. Countries like Egypt, Turkey, Bangladesh, and Iran, which rely heavily on Ukraine and Russia for wheat imports, are most affected. The war is also expected to reduce global maize trade in 2021/22 and increase prices for other vegetable oils.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The war between the two world giants in the export of agricultural products Ukraine and Russia has the potential to rearrange the balance between the forces of world markets. That is why the experts of the United Nations Food and Agriculture Organization (FAO) calculated the impact of the suspended exports and the difficulties with sowing new crops on world markets. In 2021, the two countries are in the top 3 of the world's exporters of wheat, corn, rapeseed, sunflower and sunflower oil, and Russia is the largest supplier of nitrogen fertilizers, the second largest exporter of potassium fertilizers and ranked third in the world. export of phosphorus fertilizers. However, the cessation of trade in wartime poses serious risks to shortages of basic agricultural commodities on world markets, as well as to significant increases in world food prices. Prior to the conflict, the FAO expected wheat exports from Ukraine to reach 6 million tonnes from March to June 2022 alone and 8 million ...

Source: Sinor