West could be forced to ask Russia for grain in exchange for lifting sanctions
Wheat prices have surged to record highs over the past two months as major producers like Russia, Kazakhstan and India scrapped exports to protect their domestic markets. This has sparked fears of food insecurity and hunger around the world.
According to experts who spoke to Russia’s Izvestia newspaper, since the beginning of the year the cost of wheat has risen in price by more than 60%. They say the surge was caused by the conflict between Russia and Ukraine, which provide nearly a third of the globe’s wheat exports.
In the 2021-2022 season that began in July last year, Russian suppliers accounted for 16% of global wheat exports, and Ukrainian producers accounted for 10%. But due to the conflict both countries banned wheat exports. In February Russia restricted the export of all grains (wheat, rye, barley and corn) outside the Eurasian Economic Union…
