Not only the price of grain may rise due to the Russian-Ukrainian war situation

Published 2022년 3월 2일

Tridge summary

The article highlights the severe global repercussions of the Russian-Ukrainian conflict on the agricultural sector, with a focus on the potential surge in food prices, one of the largest refugee crises, and barriers to global food and agricultural trade. Ukraine, a key player in the global fertilizer market and the world's leading sunflower producer, has seen commercial shipping suspensions and office closures by global agricultural companies following the invasion. The conflict is disrupting grain and oilseed exports, impacting major exporters like Russia and Ukraine, and leading to record high prices for wheat, corn, and other cereals. The war is also exacerbating food shortages in countries like Libya, Yemen, and Lebanon, and causing concerns about alternative sources for sunflower oil and fertilizer supplies. Brazil's agricultural exports are expected to become less competitive due to rising fertilizer prices and scarce supply, potentially leading to a 'potassium supply crisis'.

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

Original content

The UN says the Russian-Ukrainian conflict is facing dire global consequences. We can expect food prices to rise, one of the biggest refugee crises and barriers to world food and agricultural trade, as Ukraine is a major player in the global fertilizer market and the world's number one sunflower producer. Several global agricultural companies closed their offices and plants in Ukraine as soon as Russia launched an invasion. We summarize the current events of the crisis affecting global agricultural production and trade, as well as the expected effects, the Agro Diary learned from the compilation of the Agricultural Sector. After the naval and air attacks, the Ukrainian army suspended commercial shipping in its ports, which only further fueled fears of supply disruptions among leading grain and oilseed exporters. Russia has previously ordered the closure of the Azov Sea from commercial vessels, but has kept Russian ports in the Black Sea open. Due to exceptional circumstances, ...

Source: Agronaplo