The Economy of Ukraine
Farming: Grain, Sunflower Oil and Global Food
Ukraine is a top exporter of wheat, corn and sunflower oil, and disruptions to its exports can affect food prices worldwide.
A global food supplier.
Crops
Ukraine exports wheat, corn, barley, rapeseed and is the world’s leading exporter of sunflower oil.
Farms
Large agribusinesses and many smaller farms operate, and a land market opened in 2021.
Importers
Countries such as Egypt, Indonesia and Bangladesh buy Ukrainian grain.
Price effects
Disruptions in 2022 pushed global food prices sharply higher.
Bread prices
A drop in grain shipments from the Black Sea raised bread prices in some importing countries.
Assuming food markets are purely local
A regional shock can have global effects.
Key takeaways
- Ukraine is a top exporter of sunflower oil.
- Many countries rely on its grain.
- A land market opened in 2021.
- Disruptions raise global prices.
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