Africa-Press – Lesotho. Concerns about grain prices are mounting after Russia’s decision not to renew the Black Sea Grain Initiative that expired on Monday. The decision which will affect the safe transport of grain from Ukrainian ports and Russia.
Though SA has an adequate domestic supply, the potential price shocks will hit consumers and the supply chain, since Russia is world’s biggest wheat exporter and Ukraine is the fifth-biggest.
Monitoring the fallout and attempts to secure alternative supplies is crucial to avoid a global food crisis. For a deeper assessment of the situation, Business Day TV speaks to Wandile Sihlobo, chief economist of Agbiz.
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