Grain prices have continued to rise.

Since the commencement of Russia’s invasion of Ukraine on February 24, average grain purchase costs in Poland have increased by 20-35 percent, according to Pekao Bank experts.
Grain prices will remain high in the coming months due to an increase in local demand for cereal goods as a result of the influx of refugees from Ukraine into Poland, according to analysts.
Russia and Ukraine are two of the largest exporters of grains, oilseed crops, and feed ingredients in the world. Their proportion of worldwide sunflower oil exports is about 75%, while wheat and barley exports are around 30%.
Russia has also been the world’s leading fertilizer exporter.
The crisis in Ukraine, according to the report’s authors, will have a detrimental influence on the world vegetable supply.
Forecasts for global grain and oilseed crop exports were lowered by 2-5 percent shortly after the commencement of the war in Ukraine.
“Ukraine’s Agriculture Ministry has announced that, as far as the next season is concerned, the sown area will be reduced by 20-30 percent year on year,” Pekao Bank analysts wrote, adding that, according to the Food and Agriculture Organisation (FAO), Ukraine’s wheat production will decrease by 13 percent year on year in 2022.
The report stated that Poland was self-sufficient when it came to grain production.
“But domestic supply has been strongly affected by the situation on the global market and prices offered to Polish exporters,” they wrote, adding that the coming months could further increase pressure on the Polish home market.
Polish grain producers have been limiting supplies to the domestic market as they have been waiting for a further growth of global prices,” they concluded.

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