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Financial Implications of Ukraine Invasion

07/13/2022

Data assembled by Eurostat documented that following the invasion of the Ukraine by the Russian Federation, the average price of fertilizer and soil improvers doubled during the first quarter of 2022 compared with the corresponding three months of 2021. Energy and lubricant prices rose by 56 percent and animal feed by 23 percent.  Prices of agricultural products, including cereals, oil seeds, and animal products increased by 21 to 52 percent quarter-over- quarter.

 

Russia is blockading Black Sea ports and is conducting indiscriminate shelling of ports and elevators operated by Ukraine. This has reduced exports and created shortages that have resulted in price escalation and famine in some nations dependent on distribution of wheat by the UN and NGOs.