World Bank says Ukraine war may prompt grain shortages in poor countries
The World Bank on Wednesday said a number of developing countries face near-term wheat supply shortages due to their high dependence on Ukrainian wheat exports that have been curtailed by Russia’s invasion.
The World Bank said in its latest Trade Watch report that Gambia, Lebanon, Moldova, Djibouti, Libya, Tunisia and Pakistan are the most exposed to the disruptions of wheat exports from Ukraine, which make up roughly 40% or more of their wheat imports.
The trade disruptions caused by the war in Ukraine could challenge a strong trade recovery in 2021, with global goods and services trade returning to pre-pandemic levels, the World Bank said.
Source: Reuters (Reporting by David Lawder)