Will the price of bread in Ecuador rise after the end of the grain corridor in Ukraine?

The repercussions of Russia's decision to terminate the cereal export agreement, such as wheat, with Ukraine could reach Ecuador. The agreement for the so-called “grain corridor” kept Ukraine's grain trade open, one of the most fertile countries in the world. The understanding between the two countries, signed in July 2022, five months after the Russian invasion of Ukraine, has made it possible to avoid a global food emergency. Under the agreement, Ukraine exported wheat and corn from its Black Sea ports, which are controlled by the Russian Navy. And then the products crossed the Bosphorus Strait, dominated by Türkiye. In addition, the agreement prevented a price increase. And Ecuador? What impact can this world event have on the economy of Ecuador? Ecuador is an importer of wheat flour for the production of a basic product of the basket: bread. The price of wheat flour in Ecuador had fallen by 0.64% in the last year, according to data from the National Institute of Statistics and ...