According to reports, Russia and Ukraine both accuse the other of unleashing underwater mines in the Black Sea. Ukraine and Russia together are responsible for exporting 30% of the world’s cereal grains and nearly 70% of its sunflower oil. The harvest from Russia and Ukraine was expected to contribute 57.5 million metric tons of wheat to the global wheat trade, according to the WFP. Wheat exports are now estimated to be 6.5 million metric tons lower than before the conflict, or around 3% of wheat traded globally. Prior to the onset of the conflict, 98% of Ukraine’s grain exports were transported via the Black Sea.

Source: Forbes May 27, 2022 08:28 UTC