Russia-Ukraine War driving up food and input costs but supporting South African farmers

Research organisation the Bureau for Food and Agricultural Policy (BFAP) has warned that the Russo-Ukrainian War could drive up food costs around the world, including in South Africa, both directly and indirectly. On the other hand, it will provide price support for South African agriculture in the short term. The agency had already, in its food inflation report for February, warned of the war directly causing such price increases, because of the important role of both combatant countries in global food production. Ukraine was the world’s number four maize exporter, with an about 15% share of global exports, and Russia was a top exporter of wheat, whose share of global exports was some 20%. The two countries also ranked in the top ten of sunflower seed exporters.