Ukraine is also a major exporter of grain, maize and sunflower oil. The big question is whether it is possible to sow in that country in the coming period. “If there is no next harvest, that could have a major impact on the amount of grain available and therefore on prices,” says Michiel van der Veen, economist at Rabobank.
According to him, it also depends on what China, a major buyer of grain, does. “If they do not impose sanctions against Russia and are therefore allowed to buy it exclusively, other countries can use the rest of the grain,” says Van der Veen. “But if China also imposes sanctions on Russia, for example, this will push up the deficit.”
According to Rabobank, the price of grain could then double and that of maize could rise by 30 percent. And that in turn may have consequences for the price of, among other things, bread, beer and biscuits. But meat and eggs can also become more expensive, because grains are an important component of animal and livestock feed.
Since the outbreak of the war in Ukraine, grain prices on the world market have been rising:
–
