War in Ukraine will cripple global food markets (Economist) 

Economist published an article that stated that today Russia and Ukraine, respectively the largest and fifth-largest wheat exporters, together account for 29 percent of international annual sales. And after several poor harvests, frantic buying during the pandemic, and supply-chain issues since, global stocks are 31 percent below the five-year average. But this time it is the threat of embargoes from the West that has lit a bonfire —and the flames are higher than even during the Great War. Wheat prices, which were already 49 percent above their 2017-21 average in mid-February, have risen by another 30 percent since the invasion of Ukraine started on February 24th. Uncertainty is sky-high: indicators of price volatility are flashing bright red, according to IFPRI.