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Cereal prices fall after six months of war

Cereal prices fall after six months of war

“It’s almost a return to square one”: six months after the invasion of Ukraine by Russia, wheat and maize are approaching their pre-war prices, in a market which is finding “a point of ‘balance “.

The worst-case scenario, with its “hurricanes of famine” feared by the UN, has been avoided but prices remain very high and inflation threatens, point out market analysts.

Six months after the start of the war

Wheat prices had soared to nearly 440 euros per tonne on the European market in mid-May – double last summer – while merchant traffic was almost at a standstill on the Black Sea. But they fell back to around 330 euros in August.

“Six months after the Russian invasion, it’s almost a return to square one. The markets have learned to live with the crisis. The easing began at the end of May at the beginning of June with first reassuring production estimates in Europe and the resumption of exports from Ukraine, first by road and rail, then by sea”, explains Gautier Le Molgat, analyst at Agritel.

Ukraine is “on track to export almost 4 million tons of agricultural products in August”, all routes combined, approaching the more than 5 million monthly before the war, a senior official of the Department of Agriculture announced on Tuesday. American State.

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