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War Risks Raising Food Prices in Asia, Ukraine Envoy Warns

  • Ukraine counts China and India as major trading partners
  • Major exporter of essential foods like sunflower oil, grains
Russia and Ukraine  account for more than a quarter of the global wheat trade.

Russia and Ukraine  account for more than a quarter of the global wheat trade.

Photographer: Andrey Rudakov/Bloomberg

Russia’s invasion of Ukraine could lead to prolonged supply chain disruptions in Asia that could cause a spike in food prices if countries don’t act to support the government in Kyiv, Ukraine’s Ambassador to Singapore Kateryna Zelenko said. 

The two countries account for more than a quarter of the global wheat trade and about 80% of sunflower oil cargoes. The war is threatening to further disrupt supplies to big buyers such as China and India at a time when food inflation is already high.