FAO expects world wheat prices to rise 8.7 to 21.5%, according to the duration of the Russian-Ukrainian conflict

Wheat

Russia

Ukraine

Published Mar 30, 2022

Tridge summary

The G7 and the Food and Agriculture Agency - FAO - of the United Nations, warned world leaders of the need to maintain free trade flows and not to use protectionist policies during the Russian-Ukrainian war so that prices do not rise and food products disappear in the country that depends on imports and a global food security crisis. .

Original content

The FAO expects that the invasion of Ukraine - the breadbasket of Europe - will lead to a rise in wheat prices between 8.7% if the Russian-Ukrainian war stops before the middle of this year, and 21.5% if it continues for long months, due to the suspension of exports of grain and vegetable oils from Ukraine and Russia due to the ongoing conflict. between them. The FAO announced that the prices of corn are likely to jump by about 8.2% to 19.5%, other coarse grains will rise by 7 to 19.9% and oilseeds by 10.5% to 17.9% depending on how long the war between Russia and Ukraine continues. Reuters reported that Russia's invasion of its neighbor Ukraine since February 24 led to a violent shakeup in global commodity markets and record price fluctuations that made many countries respond to this crisis by stockpiling grain and cooking oils or by encouraging farmers to plant more areas with these crops. The world woke up late last month with the invasion of Ukraine, which threatened a global ...

Source: Almalnews