Latest updates
- As a result of climate change and the ongoing conflict between Russia and Ukraine, world wheat stocks are projected to drop to a 6-year low.
- The U.K. is currently trying to help Ukraine get its wheat exports out through alternate channels while Russia blocks ships of wheat and other agricultural exports from Ukraine in the Black Sea.
- Meanwhile, Russia blames U.S. sanctions for the global supply shortage.
Tuesday, April 19:
- Both Russia and Ukraine are important suppliers of wheat — the two countries account for over 25% of global wheat exports.
- The war in Ukraine has threatened supply and increased wheat prices, leading to massive demand for the export of Indian wheat.
- The Indian government and private investors have made significant wheat purchases, though procurement is down compared to this time last year.