The invasion of Ukraine by Russia could affect Nigeria’s importation of wheat, a major ingredient used for the production of a wide range of food including bread, noodles, pasta, cakes and many more, writes Gilbert Ekugbe
Since the incursion of the Russian military on Ukraine, the price of wheat has surged globally, exacerbating already high food prices across the globe. Russia and Ukraine put together are responsible for about 14 per cent of global wheat production and control about 29 per cent of all wheat exports.
Russia currently, is the top exporter of wheat while Ukraine is among the top five exporter of wheat competing with Egypt, Bangladesh and Turkey.
According to the Food and Agriculture Organisation (FAO) of the United Nations, the price of a bushel of wheat rose by 5.7 per cent to $9.347 following the escalation of the war. The FAO also warned about the possible implications of the crisis for food security beyond the region, including countries that rely to varying degrees on wheat sourced from that region.