Posted on 14 March 2022
The war in Ukraine will continue to deliver several ‘shocks’ to the global supplies, and the cost of food, the Director of the world's biggest fertiliser companies, Yasa International has stated. Yara International operates in more than 60 countries and buys considerable amounts of essential raw materials from Russia. Fertiliser prices were already high due to soaring wholesale gas prices, and wheat exports are also likely to be impacted.
In particular, there is likely to be a significant impact on the African continent. The economic impact of the Russia-Ukraine conflict in Africa has a lot to do with imports and national investments (on both ends). For instance, South Africa has billions of dollars' worth of investments in Russia, and similarly, Russia has a good chunk of investments across the Africa continent.