Grain: Ukraine’s bread and butter
When Russia invaded Ukraine last February, many feared the price of grain would skyrocket. While the cost of war is incalculable on many fronts, this would have been a disaster for Europe and other areas around the world that rely on Ukraine for wheat, maize, and other grains. Known as the continent’s breadbasket, Ukraine is a top exporter of essential grains. The country is the world’s second-largest exporter of barley and fifth-largest exporter of wheat (thanks to its climate and soil). It’s also a large exporter of corn and sunflower oil. While the world waited to see just what would happen, European countries sprung into action to prevent the collapse of Ukraine’s agricultural industry. After all, rising grain prices in Ukraine could have led to dire ramifications around the world, such as food crises and political unrest in Africa and the Middle East. So, although we all expected massive food shortages and sky-high prices, those predictions didn’t fully come to pass. In fact, Ukraine’s grain and agriculture industry is doing better than expected. Here’s why: Europe’s crisis response Ukraine’s grain exportation did take a huge hit when Russia invaded the country. Last year, Russia blocked ports in the Black Sea, which is where a large