The food distribution sector has grown considerably over the past year, driven by the surging food prices and robust domestic and international consumer demand. According to Goldman Sachs, food commodity prices are already up 6% so far this year.
As the war between Russia and Ukraine escalates, global food prices will likely jump further because Russia is a major exporter of wheat and corn. Furthermore, with major countries closing their airspaces and withdrawing from trade deals with Russia, commodity supply chains are expected to be disrupted.
