The situation in Ukraine pushes cereal prices to the highest levels

It is not only the price of gas that is alarming the world economy: the current situation in Ukraine causes a spike in cereal prices, which were already at their highest. The Italian industry does not structurally meet about two thirds (64%) of soft wheat needs and Ukraine is the third largest exporter of cereals globally, as well as the second largest supplier of maize to Italy (after Hungary) with a share of over 20% of such an essential raw material for the feed industry. Soft wheat supplies play a marginal role, accounting for 5% in volume and value of total national imports. However, the price spike comes on top of the transport blockade that has already brought to a halt mills and pasta factories in Central and Southern Italy, which have had to stop production due to a lack of raw materials.

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