The crisis in Ukraine is sending humanitarian, political and economic shock waves across the world.
According to Reuters, Russia and Ukraine hold a combined share of roughly 29% of global exports of wheat and 19% of corn. Around 70% of Russia wheat exports went to buyers in the Middle East and Africa in 2021, according to Refinitiv shipping data cited by Reuters.
Russia’s invasion of the Ukraine and political tensions are causing sweeping volatility. Recent events are causing further increases in grain prices – which were already up 50% since pre-pandemic days.
We do not buy directly in Ukraine however some of our partners do get supplied by Ukraine or Russia so indirectly prices shall increase. Also, because of the anticipated lower supply of Grain from these countries, the price for Grain has reached an all-time high.
We hope this information is helpful to you and your colleagues. Please contact our Sales team for more information [email protected].