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Exchange wheat prices have risen 40 percent since the start of the Russia-Ukraine conflict, from $300 a tonne in mid-February to $430 on March 7
.
Russia and Ukraine have significant influence in the global wheat and barley trade
.
In 2021, the two countries will account for more than 30% of global exports in these two categories
.
.
In 2021, the two countries will account for more than 30% of global exports in these two categories
.
Andriy Sizov, head of the SovEcon analysis center, said the main factor is the same, because the prospect of shipments from the Black Sea is unpredictable
.
Other negative factors include the issuance of Ukrainian corn and wheat export licenses and a less optimistic outlook for the U.
S.
wheat harvest
.
.
Other negative factors include the issuance of Ukrainian corn and wheat export licenses and a less optimistic outlook for the U.
S.
wheat harvest
.
Earlier, the United Nations Food Organization (FAO) reported that food prices in February would set a new record, with an index of 140.
7 points, 24.
1% higher than the same period in 2021
.
Dairy prices rose 6.
4% in February, while cereals rose 3%
.
The forecast is only going to get worse, with a sudden surge in price increases by the end of March
.
7 points, 24.
1% higher than the same period in 2021
.
Dairy prices rose 6.
4% in February, while cereals rose 3%
.
The forecast is only going to get worse, with a sudden surge in price increases by the end of March
.
In addition to grains, the supply outlook for vegetable oils is also volatile
.
Considering that Ukraine is the world's largest exporter of sunflower oil, while Russia is also one of the main exporters, the reduction in shipments from both countries will lead to a new round of price spikes in March
.
.
Considering that Ukraine is the world's largest exporter of sunflower oil, while Russia is also one of the main exporters, the reduction in shipments from both countries will lead to a new round of price spikes in March
.
Another trigger for higher agricultural prices will be record prices for natural gas, the raw material for nitrogen fertilizers
.
.
FAO economist Upali Galketi Aratchilage said the current round of food price increases was driven by factors unrelated to food production, including the situation in the energy sector and the production of fertilizers and feed
.
All of these factors drive down the profits of food producers, forcing them to forgo investment and expand production
.
.
All of these factors drive down the profits of food producers, forcing them to forgo investment and expand production
.
At the same time, Kazakh trading enterprises are exploring routes for transporting grain and oilseeds to Turkey via the Caspian Sea, Azerbaijan and Georgian or Novorossiysk ports
.
At current prices, even longer shipping routes are profitable
.
.
At current prices, even longer shipping routes are profitable
.
