Wheat prices have been climbing on global markets, just days after Russia pulled out of an agreement that guaranteed safe passage for ships carrying cereals through the Black Sea, reigniting fears of the impact on poorer, grain-importing countries, as well as on western nations dealing with stubbornly high inflation.
Russia has carried out heavy air strikes on Ukraine’s grain stores, as well as port infrastructure in the coastal city of Odesa after the Kremlin’s decision to terminate the UN-brokered Black Sea grain initiative between Russia and Ukraine.
