Africa’s biggest wheat importers would benefit the most from a resumption of shipments out of Ukraine, while the softening in prices would benefit consumers across the world. It would be good news for drought-hit African regions and parts of Asia, too.
Therefore, however marginal, a potential decline in the prices of these commodities would be positive for importing countries – and ultimately consumers., 90% of which is wheat and 6% is sunflower seed. The major importing countries are Egypt followed by Sudan, Nigeria, Tanzania, Algeria, Kenya and South Africa.. About 48% of this was wheat, 31% maize and the rest includes sunflower oil, barley and soybeans.
A resumption of the trade activity would release about 22 million tonnes of grains out of Ukraine. It’s also safe to assume that grain orders from Russia to various markets in the world will also increase. Africa’s biggest wheat importers would benefit the most from a resumption of shipments out of Ukraine’s ports. More generally, the softening in prices would benefit consumers across the world.
In addition, the World Food Programme will be able to source food for donations in struggling African regions, such asOne can’t miss the fact that Ukrainian farmers would benefit too. They have been worried that, without a resumption of trade, their crops would rot in silos. The deal signals hope for some relief, and the prospect of creating space to store the new season’s crop.
. Multinational discussions will be a crucial determinant of whether grain trade resumes from the Black Sea.The grain price dynamics and possible benefits for importing countries will all depend on these uncertain developments. Still, any success in the exports of grains from Ukraine will benefit the African countries directly through the delivery of physical supplies – or indirectly through possible global price softening.
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