Higher food prices and slumping trade. How the war in Ukraine could hit Africa

Higher food prices and slumping trade. How the war in Ukraine could hit Africa
Ukrainian servicemen take positions at the military airbase Vasylkiv in the Kyiv region, Ukraine February 27, 2022. REUTERS/Maksim Levin

African economists sound the alarm over a looming and likely catastrophic lowering of trade volumes between the continent and its warring partners if Russia’s widely condemned incursion into Ukraine isn’t short-lived.

Russia and Ukraine are key players in the global agricultural trade, with both nations accounting for a quarter of the world’s wheat exports, including at least 14 percent of corn exports in 2020, and a joint 58 percent of global sunflower oil exports in the same year, analysis show.
Trade between African countries and the former Soviet neighbors, especially Russia, has…
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Higher food prices and slumping trade. How the war in Ukraine could hit Africa

 

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