Surging prices of wheat, corn and cooking oil caused by the war in Ukraine have had a domino effect across global food supplies. Refinitiv’s Libin Zhou explains why the affects of the conflict on food prices could linger for years.
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Francisco Gimeno - BC Analyst Energy, food, commodities, supply chains, the meaning of globalisation itself, have been in a crisis for some time now. The Pandemic exacerbated it. And now the Ukrainian war has gone even beyond, as Ukraine is tremendously important globally for cereal export. Global markets thinking short term suffer the effects of all of this. With time, new avenues for agricultural commodities, energy production and transmission, a new way of understanding globalisation (with effects on the global supply chain itself) will come to solve this, but in the meantime everybody is suffering the global effects. The 4th IR techs are the tools w could use to solve this faster.