Wheat is more omnipresent than we may think: bread, pasta, cereal bars, beer, and even some ice cream require wheat. With the ongoing Russia-Ukraine War, it's become impossible for the world to tap into the two countries' massive wheat supply like before. To understand how curbed wheat supplies have affected the world, we take a look into our own lives as well as countries that import most of their wheat from Russia & Ukraine.
The global grain market experienced price shocks throughout late February and early March. CME wheat futures reached a 14-year-high mark while corn futures reached close to a historical record. With Ukraine and Russia playing a crucial role in world grain production, the grain market is expected to face further turbulence. Learn more about the situation, how it affects key importers and alternative producers, and expectations for the upcoming months in this episode.
Listen in on Free on Board's Agri Headlines for notable updates in the agriculture space. On W11 2022's Agri Headlines, we cover five categories: Grain, Oil and Fats, Fruits and Vegetables, Value-added Fruits and Vegetables, and the Meat Market.
The Turkish government announced its decision to eliminate tariffs for the import of cereals. What factors are involved? Why the elimination of tariffs on cereals specifically? With global inflation and the weakening of the Turkish Lira, the answer seems to be multi-faceted. Tridge's Engagement Manager Ferhat Erdem joined us from Turkey to share his insight into the situation.