Russian invasion led Ukraine to export crisis to global agribusiness, experts say

Market & Price Trends
Innovation & Technology
Published Feb 27, 2024

Tridge summary

The Russia-Ukraine war has significantly impacted global agribusiness, with Ukraine's agricultural sector suffering a loss of US$10 billion due to attacks on infrastructure. Over four million hectares of Ukraine's agricultural land have become unusable, leading to a 20% loss of the country's agricultural land, blocked ports, and a significant drop in grain exports. Predicted reductions in corn, soybean, and beet areas for this year will further decrease the total area cultivated with spring crops. This conflict has also led to increased prices for US soybeans and corn on the international market.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The two years of war between Russia and Ukraine marked on February 24, 2024, flooded the press with analyzes of what this period was like and what the impacts of the conflict were, especially for Ukrainians. For agribusiness - in Brazil and around the world - the movement was no different. Since Vladimir Putin's offensive on Ukrainian territory in 2022, a lot has changed, many scenarios have been remade, undone and many still remain completely uncertain. The balance is, undeniably, negative, like that of any war, with severe humanitarian losses - the worst of them all - and financial, infrastructure and, mainly, a promising future, at least until now. What do we see the day after we evaluate the last two years of this conflict? Concerns for some, opportunities for others, insecurity for all. With no end date on the horizon - as experts pointed out two years ago - this conflict has once again placed the future of food security at the center of discussions, not only in terms of the ...
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