Grain is already being harvested in bulletproof vests, but grain shortages could still lead to a refugee crisis

By: Trademagazin Date: 2022. 04. 29. 07:42

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Ukrainian grain stocks on the market are running low, and no one dares to do business with the Russians because of the sanctions. Inflation is already high in the countries of the MENA region, but it could have unpredictable consequences, both locally and in Europe, if the governments of North Africa and the Middle East are somehow unable to put bread on the table.

Russia and Ukraine together provide roughly a third of the world’s grain stock, are responsible for 20 percent of corn supply, and they also produce 80 percent of all sunflower oil. According to a CNBC article, they are particularly dependent on developing countries on the southern, south-eastern shores of the Mediterranean, where the question of what to eat tomorrow is not at all unusual.

Prior to the Russian occupation on February 24, more than 95 percent of Ukraine’s total grain, wheat, and corn exports went through the Black Sea. Half of these exports went to MENA countries, but since then, thanks to Russian warships, this literally vital trade channel has virtually frozen.