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2022-02-28 05:40
Shafaq News/ The Iraqi economic expert, Dargham Muhammad Ali, confirmed on Monday that Iraq will be affected by the rise in wheat prices globally against the background of the Russian invasion of Ukraine, but it is the least affected than the rest of the Arab countries.
Ali said in an interview with Shafaq News Agency, "Ukraine and Russia constitute the grain basket for about 30% of the world's countries, and their absence will cause a shortage in the international supply of wheat, and the Arab countries are among the most prominent buyers of Ukrainian and Russian wheat, especially Egypt and Morocco."
He added that "Iraq is relatively less affected than the rest of the Arab countries, as it often depends on various sources of wheat, including local production as well as imports from Australia," adding at the same time that "Ukrainian wheat is entered unofficially and marketed to silos as local wheat."
Ali pointed out that "the rise in wheat prices globally will affect Iraq like all countries of the world importing wheat, regardless of its origin, because wheat prices in the whole world will rise, and perhaps the approach of the wheat harvest season in the secured and semi-secured areas, the rains in Iraq will reduce our impact."
Russia and Ukraine provide crops to a long list of countries around the world, including large quantities for buyers in the Middle East and Africa, who will have to look elsewhere and perhaps pay more for both the grain itself and the cost of shipping.
The Ministry of Commerce confirmed last Thursday, in an interview with Shafaq News Agency, that Iraq has good reserves of wheat to face the current crisis in Ukraine through local production, in addition to contracting with Australia to supply wheat from them in good quantities.
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Economist: Iraq will be affected by the rise in wheat prices, but it is the least affected than the Arab countries
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2022-02-28 05:40
Shafaq News/ The Iraqi economic expert, Dargham Muhammad Ali, confirmed on Monday that Iraq will be affected by the rise in wheat prices globally against the background of the Russian invasion of Ukraine, but it is the least affected than the rest of the Arab countries.
Ali said in an interview with Shafaq News Agency, "Ukraine and Russia constitute the grain basket for about 30% of the world's countries, and their absence will cause a shortage in the international supply of wheat, and the Arab countries are among the most prominent buyers of Ukrainian and Russian wheat, especially Egypt and Morocco."
He added that "Iraq is relatively less affected than the rest of the Arab countries, as it often depends on various sources of wheat, including local production as well as imports from Australia," adding at the same time that "Ukrainian wheat is entered unofficially and marketed to silos as local wheat."
Ali pointed out that "the rise in wheat prices globally will affect Iraq like all countries of the world importing wheat, regardless of its origin, because wheat prices in the whole world will rise, and perhaps the approach of the wheat harvest season in the secured and semi-secured areas, the rains in Iraq will reduce our impact."
Russia and Ukraine provide crops to a long list of countries around the world, including large quantities for buyers in the Middle East and Africa, who will have to look elsewhere and perhaps pay more for both the grain itself and the cost of shipping.
The Ministry of Commerce confirmed last Thursday, in an interview with Shafaq News Agency, that Iraq has good reserves of wheat to face the current crisis in Ukraine through local production, in addition to contracting with Australia to supply wheat from them in good quantities.
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