Ifpri Podcast

The current conflict between Russia and Ukraine is likely to generate an immediate impact on global wheat market stability and, by disrupting natural gas and fertilizer markets, have negative impacts for producers as they enter a new planting season. In an exclusive briefing for journalists, three senior economists at the International Food Policy Research Institute answer questions and provide analysis on the potential short- and long-term impacts of Russia’s invasion of Ukraine. As two of the top five global wheat exporters, Ukraine and Russia supply about 34% of global internationally traded wheat. Russia is also an important supplier of nitrogenous fertilizers and potash, accounting for 15% of global trade in nitrogenous fertilizers and 17% of global potash fertilizer exports. Sanctions against Russia are also likely to disrupt natural gas imports (particularly to the EU), which is an important component for producing nitrogenous fertilizers. More analysis is available in a blog post here. PANEL: David