The world expects food growth due to the threat of war from Russia

The threat of Russian invasion of Ukraine could force buyers of wheat, corn and oil to look for alternative suppliers, leading to rising world food prices. This was reported by "Economic Truth" with reference to Reuters. "The escalation of tensions between world leaders in crop production in Russia and Ukraine is likely to force buyers of wheat, corn and sunflower oil to seek alternative supplies, which will raise world food prices, which are already approaching long-term highs," the newspaper said. Reuters noted that Ukraine and Russia account for about 29% of world wheat exports, 19% of world corn supplies and 80% of world exports of sunflower oil. Because of this, traders are concerned that any military intervention could affect crop movements and provoke a massive struggle of importers to replace supplies from the Black Sea region. Buyers in the Middle East and Africa will look for alternative sources, "said Reuters experts. According to Refinitiv, in 2021 about 70% of wheat ...