The war in Ukraine shoots up the prices of raw materials

hec News

The Russian invasion of Ukraine and the subsequent war that is developing between two of the main exporting powers of food and energy raw materials has led to an increase in food prices without comparison in recent decades. Ukrainian grain production, in what was known as "Europe's breadbasket", has practically disappeared, and Russian grain production does not reach Europe due to economic sanctions. Along with this, an equally disproportionate rise in energy caused by economic sanctions on Russian gas and oil has only made the situation worse. Food prices, already highly inflated since the end of the COVID-19 pandemic, have continued to increase following the development of the sad events, putting pressure on a market, the food market, which is at the limit of consumers' possibilities. .