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The conflict in Ukraine has a global impact
All countries
Monday 28 February 2022
FJ
The repercussions of the conflict are numerous and in particular on the energy markets, on the grain markets and on the fruit and vegetable markets (Photos: p.calameoassets.com/ukrainianweek.com/encyclopediaofukraine.com).
The Russian-led military operation in Ukraine has an impact on the global economy and multiple repercussions on energy markets, grain markets and fruit and vegetable markets. Ecuadorian banana exports are expected to be strongly affected.
For Ecuador's banana exports, Russia is an important market generating USD 699 million and Ukraine USD 79 million, according to data from Fedexpor (Federación Ecuatoriana de Exportadores).
The various sanctions imposed on Russia as well as the situation in Ukraine, where several ports are inoperative following military operations, raise fears of a halt in the transport of Ecuadorian bananas to these two markets, according to Acorbanec (Asociación de Exportadores de Banana).
Ecuador exports about 83 different products to Russia from about 500 companies in agriculture, agro-industry, aquaculture, fisheries. The total turnover reaches 1 billion USD.
Turbulence also on the cereals market. Ukraine is the 5th world exporter of wheat and the 4th world exporter of maize. On the Euronext platform, the prices of these cereals soared and reached record levels (344 euros/per ton for wheat, and 290 euros/per ton for corn).
source : eluniverso.com, bloomberglinea.com, lexpansion.lexpress.fr
