If prices continue to rise, it could exacerbate global food inflation and exacerbate hunger. Bloomberg writes about it.
For example, Chicago wheat edged up 7.7% to $8.9325 a bushel in early trading on Monday before cutting back to 5.9% by 10:06 am in Singapore. Corn rose in price by 2.8%, and soybean oil – by 3%.
“The world relies on the Black Sea region for over a quarter of its wheat and barley exports, about a fifth of its corn cargo”.
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