The global food system was strained even before the Russia-Ukraine war broke out. Chaotic supply chains and unpredictable weather had already pushed food prices to their highest levels in about a decade. More than 20 days after Russia's invasion of Ukraine, with no sign of a cease-fire, the world is now facing a food crisis as prices of key agricultural products from the Russian-Ukrainian region have spiked.
Russia is the world's largest exporter of wheat, while Ukraine ranks fifth. Together, the two countries account for 19% of the world's barley supply, 14% of wheat, and 4% of corn. That’s more than one-third of global grain exports.
The two countries are also major suppliers of rapeseed, accounting for 52% of the world's sunflower oil export market. In the same highly concentrated global fertilizer supply chain, Russia is a major producer.
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