Information Note - The importance of Ukraine and the Russian Federation for global agricultural markets and the risks associated with the war in Ukraine
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The Russian Federation and Ukraine are among the most important producers of agricultural commodities in the world. Both countries are leading suppliers of agricultural products to global markets, where exportable supplies are often concentrated in a handful of countries. The Russian Federation is also a leading producer and exporter of fuels and fertilizers. The war in Ukraine is resulting in growing global market tightness, lifting prices for food, fertilizers and fuels to new highs. This report reviews the main market risks associated with the conflict, assesses the impacts on global food supplies and food security and puts forward policy recommendations and proposals to deal with the situation.
