“We hope for a fruitful fall season and thank our customers for their patience and continued support during this difficult time,” the company said. FOX13
for wheat are the worst they’ve been in 20 years around the world, Menker said."Major breadbaskets" like the U.S. and Brazil, the world’s two largest exporters of agricultural product, are also experiencing extreme droughts.: The price of palm oil has nearly tripled in the last two years, Menker said, and the world has lost 75% of sunflower oil exports to the war in Ukraine. China has also notably increased the amount of cooking oil it imports.
: Russia and Ukraine accounted for a third of the world’s wheat exports before the conflict began. Now, the world is seeing record low grain levels on top of fertilizer shortages, supply chain issues and droughts.: Supply chain issues created by the pandemic have been exacerbated by the Russia-Ukraine war."All Ukrainian ports remain closed, making it impossible to move any of Ukraine’s harvested grain across its borders," Menker said.