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
APK-Inform and Interlegal updated the program of "Grain Forum & Maritime Days 2016"
April 29, 11:40
Ukraine reduced the production of flour from alternate crops
April 28, 09:55
Ukraine exported over 33 mln tonnes of grains - Ministry of Agrarian Policy
April 27, 17:30
Ukraine to take the second position for agricultural products exports, following the USA
April 27, 17:00
Ministry of Agrarian Policy of Ukraine to actively apply the best agrarian practices of the USA and European countries
April 27, 14:25
Early bird fee for participation in VegOils & Meals–2016 until the end of April
April 27, 13:25
Efficiency of the agricultural complex of Ukraine is one of the major priorities for the Cabinet of Ministers
April 27, 12:10
Ukraine planted early spring grains throughout 2.4 mln ha – Ministry of Agrarian Policy
April 27, 10:30