The global community needs to prepare for wheat prices rising to $700 per ton this year, a nearly 40% jump from the current $430, the Ukrainian minister of agrarian policy and food, Mykola Solsky, said on Wednesday, as cited by TASS.
“Are we ready to pay $500, $600, $700 per ton? The situation is critical for Asian and African countries, which mostly imported grain from Ukraine,” Solsky added.
He also warned that the country’s harvest this year could be much lower than it was in 2021.
“This year we expect a 50% drop from last year’s harvest,” he stated, adding that due to Russia’s ongoing military operation in Ukraine, “the next winter sowing campaign is in jeopardy.”