Skyrocketing global wheat prices, risk of famine in the Middle East and North Africa; the effects of the war in Ukraine on Italian durum wheat in Sicily and the South

Published 2022년 3월 4일

Tridge summary

The article highlights the concerns of Sandro Puglisi, CEO of Sicilian Wheat Bank, about the potential impact of the Ukraine war on food poverty in the Middle East and North Africa. Puglisi points out that the conflict could lead to a significant reduction in the global supply of wheat, given that Ukraine and Russia are major contributors to the world's wheat production, accounting for over 29% of the world's exported wheat. The war is already disrupting traditional buying patterns, with countries seeking alternative suppliers in Australia, Argentina, the US, and France. The situation is further complicated by climate change, potential issues with spring plantations, and rising energy prices. These factors could collectively drive wheat prices to new highs, exacerbating food poverty in regions that rely heavily on wheat imports, especially in North Africa, which is already grappling with drought.

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

Original content

"Across the Middle East and North Africa, the fallout on food prices from the war in Ukraine could lead millions more to food poverty." Sandro Puglisi, CEO of Sicilian Wheat Bank - La Banca del Grano SpA writes it bluntly, protagonist of the Facebook page, The friends of the “Sicilian Wheat”. We have been following Puglisi's economic analyzes for almost a year, ranging from agricultural markets to energy markets, up to the performance of stock exchanges around the world. Puglisi reports on the Facebook page a long reflection he wrote for ENNA press.it. For us it is an opportunity to take stock of the situation on wheat and, in general, on agricultural markets in light of the effects that the war in Ukraine is causing on the world economy. Starting from Ukraine and Russia which, we recall, are among the most imported countries in the world in the production of wheat, we can try to understand what could happen in the coming weeks and months, especially if the war continues. Puglisi ...

Source: Inuovivespri