Nearly four months after the Russian invasion of Ukraine, lower-income countries have braced themselves as the prices of basic commodities continue to skyrocket.
The two countries play a big role in the global food supply chain — delivering half of North Africa and the Middle East’s supply of cereal and a large portion of its wheat and barley. Altogether they are responsible for 12% of all calories traded globally.
Ukraine also supplies half of the sunflower oil in the global market, while Russia is a major exporter of fertilizers. The current sanctions from the West have hit the trade in these goods. Since last year, fertilizer prices have more than doubled.