Russia’s blockade of Ukraine’s ports will cripple global food chains

― The Telegraph

Russia’s blockade of Ukraine's Black Sea port is devastating for global food supplies. Russia and Ukraine, respectively the largest and fifth-largest wheat exporters, together account for 29 per cent of international annual sales. Prices are already surging, with wheat traded in Chicago – the international benchmark – jumping by more than 50 per cent since war broke out, and corn rising by almost 10 per cent. This comes against a general backdrop of escalating food inflation. On Friday, Hungary announced it would ban all grain exports to insulate itself from market volatility, while Bulgaria – another significant wheat exporter – said it would purchase at least half of three million tonnes of wheat still in the country’s silos. Ukraine’s agriculture minister said 15 million tonnes of wheat, corn and barley are currently piled up in silos and Ukraine is desperate to export them. But it can now only do so by land. Ben Farmer reports from Ukraine, video by Harriet Barber, global health. Subscribe to The Telegraph on YouTube ► https://bit.ly/3idrdLH Get the latest headlines: https://www.telegraph.co.uk/ Telegraph.co.uk and YouTube.com/TelegraphTV are websites of The Telegraph, the UK's best-selling quality daily newspaper providing news and analysis on UK and world events, business, sport, lifestyle and culture. #Ukraine #Russia #food #supplychains

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In harvest Ukrainan sota 2022-2024

Original source: https://www.youtube.com/watch?v=6UQSqv-mw3A

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