Food to fuel everything is getting more expensive as the war wages on. The price of wheat climbed to its highest levels in more than a decade as Russia’s invasion of Ukraine advanced. Russia is the largest exporter of wheat and Ukraine is among the four biggest exporters of the commodity.
Also read | Russian state media will no longer appear in the Google News app
Wheat prices were up over 5% reaching prices not seen since 2008. The higher prices make wheat more expensive for food makers, who will likely pass those costs on to consumers.
Of the 207 million ton international wheat trade, 17% comes from Russia and 12% comes from Ukraine.
Also Read | Russia-Ukraine War Live News Updates