Wheat and seed oil exports could be dramatically impacted, and it could take years before a return to normalcy because of disrupted planting schedules
This new inflation shock comes at a time when global markets remain extremely strained because of pandemic-related disruptions. The price changes impacted commodity prices in recent days and could flow through to higher costs at grocery stores and restaurants soon.
There are a number of factors pushing the prices up so quickly. Russia’s attack has imperiled shipping in the Black Sea region, which is where much of the area’s wheat shipments are exported.disrupt the ability of Ukrainian farmers to plant and harvest crops in 2022. Russia is a key global player in natural gas, a major input to fertilizer production. Higher gas prices, and supply cuts, will further drive fertilizer prices higher. Russia is one of the biggest exporters of the three major groups of fertilizers . Physical supply cuts could further inflate fertilizer prices.
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