News

After six months of war in Ukraine, grain prices have fallen back from their peaks

Wheat
Russia
Ukraine
Published Aug 25, 2022

Tridge summary

The worst-case scenario, with its “famine hurricanes” feared by the UN, has been avoided but prices remain very high and inflation threatens, underline market analysts. Wheat prices had soared to nearly 440 euros per tonne on the European market in mid-May - double last summer - while merchant traffic was almost at a standstill on the Black Sea. But they fell back to around 330 euros in August. “Six months after the Russian invasion, it's almost a return to square one. The markets have learned to live with the crisis.

Original content

The worst-case scenario, with its feared UN "famine hurricanes", has been averted but prices remain very high and inflation threatens, market analysts point out. Wheat prices had soared to nearly 440 euros per tonne on the European market in mid-May - double last summer - while merchant traffic was almost at a standstill on the Black Sea. But they fell back to around 330 euros in August. "Six months after the Russian invasion, it's almost back to square one. The markets have learned to live with the crisis. The easing began at the end of May-beginning of June with first reassuring production estimates in Europe and the resumption of exports from Ukraine, first by road and rail, then by sea", explains Gautier Le Molgat, analyst at Agritel. Ukraine is "on track to export almost 4 million tonnes of agricultural products in August" across all channels, approaching the pre-war monthly over 5 million, a senior Department of Agriculture official said on Tuesday. US state. "Strong Ruble" ...
Source: Pleinchamp
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