Corn and wheat never so expensive in the Euro-zone: the fault of the conflict in Ukraine, one of the largest exporters of these cereals in the world
Don't store avocado like this: it's dangerousThe economic consequences of the Russian-Ukrainian conflict that has just erupted are heavy and are already making themselves felt. The collapse of the Moscow Stock Exchange has caused oil and aluminum prices to skyrocket, of which Russia is one of the largest producers and exporters in the world; but also the prices of methane gas have risen due to the tensions between Moscow and Kiev.
However, what particularly worries the European markets (and beyond) is the increase in the price of an essential element for our livelihood: wheat. In fact, never before have cereal prices in Europe hit these records: 344 euros per tonne, according to Euronext. The previous record, of 313 euros and 50 per tonne, was recorded on November 24th; it was then followed by a slight lowering of the price, which remained high (320 euros per ton).
(Read also: The threat of war in Ukraine causes corn and wheat prices to soar, increases by as much as 20%)
The price of corn is also worrying, imported from our country for human food and for livestock: the cereal reached 304 euros per ton after the announcement of the clashes in Ukraine. Recall that Ukraine is the fourth largest exporter of wheat and corn in the world, and this explains the increase in the prices of these cereals that is also occurring overseas, in the United States: the price of corn has risen to 718 $ 75 cents per ton (with an increase of 5,1%), while that of wheat at 926 dollars per ton (+ 5,7%).
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Fonte: Euronext
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