Both Ukraine and Russia contribute significantly to the global supply of food grains, especially wheat and corn.
Data from the US Department of Agriculture (USDA) shows that Russia and Ukraine together supplied around 56 MMT of wheat in 2020-21, which equates to around 27,6 percent of global exports.
The data also suggests that both countries exported around 27,9 MMT of corn in 2020-21, which accounted for 15,4 percent of global exports.
Any disruption in food grain exports from Russia and Ukraine will increase the prices of essential food commodities like wheat and corn.
Price:
- The Wheat Prices at $0,32 per kg.
- The Corn prices at $0,29 per kg
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