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German grain import prices surge as Ukraine war hits supply – stats office

German import prices for grain surged in March as the war in Ukraine hit global agriculture supplies, the German statistics office reported on Friday.

Import prices for grain were up 53.6% year-on-year during the first full month of the conflict, which began with Russia’s invasion on Feb. 24, with the cost of wheat imports jumping by 65.3%, the Federal Statistical Office said.
Producer prices for grain in March were 70.2% higher than in the same month last year, the highest increase since June 2011, driven by low supply and high demand at home and abroad, the office added.

Russia and Ukraine are traditionally major competitors in global grains markets. However, the statisticians said just 2% of Germany’s grain came from those two countries last year.
Source: Reuters (Reporting by Rachel More Editing by Paul Carrel)

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