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.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
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.