Ukraine conflict: Wheat price breaks all records

Brussels, Dusseldorf The price curve has deformed into a line, it has been pointing steeply upwards for days. Russia’s war against Ukraine is driving wheat prices from record to record. On Tuesday, the price per ton passed the 420 euro mark. With every peak, the fear of a global hunger crisis grows – and with it the concern for political stability in Africa and the Middle East.

Russia and Ukraine are considered the breadbaskets of the world, typically providing about a third of the world’s traded wheat. But the ports on the Black Sea can no longer be approached because of the war. Trade has practically come to a standstill. Urgently needed fertilizer is also no longer exported.

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