Conflict in Iraq may have great impact on the grain market – expert
Beginning of 2014 was characterized with certain tensions on the global grain market due to the difficult political situation in the Black Sea region. However, the observed escalating conflict in Iraq provides much greater threat to the world grain market, declared Natalia Merkusheva, Economist of the Food and Agriculture Organization of the United Nations, on June 17 during her speech within the international conference Grain Forum – 2014 in Odessa.
According to her, to date there are three scenarios for future development of the situation. The optimistic one - the situation will improve, and the grain market will not suffer. Less optimistic - the conflict will be located within the Iraqi borders. But it will affect the grain market, as the country is one of the world major grain importers, and the demand level may be reduced, due to the conflict, explained N.Merkusheva. The pessimistic scenario is possible in the case of involvement of the neighbouring countries into the conflict.
Such situation development will not only reduce the global demand for grains, but also impact petroleum prices, which are directly tied to formation of grain prices, said N.Merkusheva.
You should be authorized to post comment
Ukraine: in 2014/15 MY domestic consumption of grains to fall - APK-Inform
Syngenta is the exclusive sponsor of the conference "Fat-and-Oil Industry – 2014”
In 2015 Ukraine to lose 50-60 mln USD due to the ban on imports of plant growing products to Russia – I.Shvaika
October 23, 18:00
As of October 23, Ukraine harvested over 52.7 mln tonnes of grains - Ministry of Agrarian Policy
October 23, 17:30
Market of high-oleic sunflower seed in Russia and Ukraine – new study of APK-Inform
October 23, 14:00
Ukraine: Ministry of Agrarian Policy forecasts overachievement of the plan for winter wheat planting
October 23, 11:00