World: The World Bank expects wheat shortages in poorer countries

The World Bank said many developing countries are facing short-term wheat shortages due to their high dependence on Ukrainian wheat exports, which has been disrupted by the Russian invasion. The World Bank said in a recent Trade Watch report that the Gambia, Lebanon, Moldova, Djibouti, Libya, Tunisia and Pakistan are the most vulnerable to the disruption of Ukrainian wheat exports, which account for roughly 40% of their wheat imports. “These importers will have trouble switching quickly to alternative sources, which could lead to a shortage of supply in the short term,” the World Bank said. The grain supply situation has been exacerbated by Russia's restrictions on exports of wheat and other cereals to countries outside the Eurasian Economic Union. According to the World Bank, Russia was the largest exporter of wheat in 2018 and Ukraine the fifth largest. Together, the two countries account for about a quarter of world exports. Western sanctions against Russia over Ukraine’s ...