18 April, 2022

World: Grain prices pushed up even more by threatening loss of Black Sea supplies

Global grain markets were already firm before the outbreak of the war, but the threatening loss of Black Sea supplies has pushed up prices even more, H. M. Gauger GmbH reported earlier in April.

Worldwide production prospects are fair to good. The southern hemisphere harvested good wheat and barley crops. It is dry in parts of South America, but corn and soybean crops look fair, the Brazilian safrinha maize crop much better than last year. It is too dry in parts of the U.S. plains, and in the Western parts of the Canadian Prairies. Conditions are good in Europe, troublesome in North Africa, Turkey and the Middle East, very good in India (the new wheat exporting country), and only fair in China. The world will not go hungry yet, but the world consumption of grains and oilseeds is growing year by year.

Strong price increases of oil, gas, coal, all fertilizers and herbicides increase the cost of all agricultural produce. Food inflation has gripped the whole world by now, forecasts are for high price levels to stay for a long time. The WHO must rely on higher contributions from member countries to uphold a minimum level of food aid to the poorest countries.

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