The whole world has been struggling from high food prices in the last two years thanks to production cuts in various grains / oilseeds / pulses etc., in different countries. Coupled with that the increasing food demand from China and India has only made the shortage more acute.
Now Russia has added fuel to this food problem by imposing a ban on Wheat exports. It is important to note that Russia is the world’s largest exporter of Wheat grains and a cut by Russia has already pushed up the wheat prices by over 30% in the last two weeks.
Filed in: Economy
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