The war has triggered a huge spike in wheat prices, with Russia and Ukraine among the biggest exporters of the commodity.
- Weizhen Tan @WEIZENT
Both countries account for 29% of global wheat exports, according to the World Bank. Wheat prices soared around 6% on Monday after India’s weekend announcement.
“With food prices already high due to COVID-related supply chain disruptions and drought-reduced yields last year, Russia’s invasion came at a bad time for global food markets,” said the International Food Policy Research…