Food prices in Africa are skyrocketing due to the Russia-Ukraine crisis

Published 2022년 3월 20일

Tridge summary

The ongoing Russia-Ukraine conflict is expected to cause higher prices and potential supply shortages of wheat in African countries, including South Africa. As major global food producers and exporters, Russia and Ukraine contribute significantly to the world's grain and oil markets. South Africa, which imports wheat and sunflower oil from these countries, is likely to experience an increase in food prices despite not facing a food shortage. The conflict is causing concern among African countries that rely on wheat from Russia and Ukraine, as they may be forced to source wheat from other countries at much higher costs. The rise in oil prices resulting from the conflict is also expected to lead to higher commodity prices and inflation in Africa.

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

Original content

JOHANNESBURG: African countries will pay higher prices for wheat and may experience supply shortages in the coming weeks following the ongoing Russia-Ukraine conflict. "South Africa imports wheat from Ukraine and Russia but due to the ongoing conflict, we expect to experience a shortage of wheat supply, and an increase in oil prices," political scientist at the University of South Africa Dirk Kotze told the Anadolu agency. According to the Food and Agriculture Organization of the United Nations, Russia and Ukraine are major global food producers and exporters. Russia is the largest exporter of wheat in the world, and Ukraine is the fifth largest. Both countries provide 19 percent of the world’s barley supply, 14 percent of wheat and four percent of corn, making up more than a third of global grain exports. Both also account for 52 percent of the world’s sunflower oil export market and Russia is a leading global fertilizer producer. In a text message to the Anadolu agency, ...

Source: Astroawani