Will the EU replace Russia and Ukraine in grain supplies?

Published 2022년 3월 25일

Tridge summary

The global wheat market is experiencing a surge in prices due to the conflict in Ukraine and the partial export ban by Russia, raising fears of famine and food riots, particularly in countries dependent on their grain supplies. Despite sufficient global wheat production, the rising prices and various other factors such as increased electricity and fertilizer costs, higher logistics expenses, and empty grain storages exacerbated by the COVID-19 pandemic threaten the food supply and security of many countries, especially those in Africa and those facing economic challenges. The situation is further worsened by the underdevelopment of transport infrastructure and insufficient storage facilities in Africa, and the lack of intra-African trade to replace imports from Russia and Ukraine. The Food and Agriculture Organization of the United Nations has noted a significant increase in the prices of agricultural products since the pandemic's start. The organization Deutsche Welthungerhilfe suggests that countries suffering from the food crisis would be less impacted if they had invested in their agricultural production and development. The European Union is being called upon to intervene and help alleviate the supply shortage.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Almost every day the price of wheat goes up. Due to the rise in prices for it, the fear of possible famine in many countries of the world is increasing. Market participants are increasingly answering the question: will the EU be able to replace Russia and Ukraine in the supply of grain, thereby mitigating the consequences of the war in Ukraine, KazakhZerno.kz writes. Considering the situation on the grain market in detail, one cannot fail to mention the main thing: enough wheat is grown all over the world to provide the people of the whole world with food. This is good news, but there is also bad news. Wheat prices are rising. It is not cultivated where it is most needed. When the Russian authorities imposed a temporary ban on the export of a number of grain crops, in particular barley, rye and wheat, grain prices rose again. Because of this, fears about the possible emergence of famine and food riots intensified. According to German Green Party MEP and agricultural policy expert ...
Source: Kazakh-zerno

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