Grain News & Analysis
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Market Mood
Ukraine Attacks Russian Export Terminals, Global Food Supply at Risk
Ukraine has conducted a drone assault on Russian grain export terminals in Novorossiysk, resulting in three fatalities and 24 injuries. Russia has warned of potential disruptions to global food supplies as regional officials reported damage to grain companies. Agricultural consultancy SovEcon indicated that Russia may export only 3 to 3.4 million metric tons of wheat in August, compared to the five-year average of 5 million tons. This situation may elevate global food prices, impacting markets and food security, particularly in developing countries.
Read More: Ukraine Attacks Russian Export Terminals, Global Food Supply at Risk
UK Egg Prices Rise 80% from £1 to £1.80 in 2023 Amid Shortages
The price of a box of six supermarket own brand free-range eggs in the UK rose from £1 in 2022 to £1.80 in 2023, an increase of 80%. This rise is attributed to the culling of millions of hens during the UK's worst avian flu outbreak from 2021 to 2023, compounded by energy costs and grain price hikes due to the conflict in Ukraine. Additionally, the price of four pints of semi-skimmed milk increased from £1.29 to £1.65, representing a 28% rise. As costs continue to outpace inflation, producers are facing financial difficulties, with costs rising by 7.7% as of April 2023.
Read More: UK Egg Prices Rise 80% from £1 to £1.80 in 2023 Amid Shortages