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JJG - Syngenta Warns Of Food Crisis In Shadow Of Russia/Ukraine Conflict
iPathA Series B Bloomberg Grains Subindex Total Return ETN
Syngenta expects agricultural output in Ukraine to fall by a third this year as a result of the ongoing invasion by Russia.
Production estimates from S&P Global's Food and Agri Commodity Economics show a sharp decline in the production of the major crops in the country this year, with wheat production falling 33.3%, maize (-52.3%), sunflowers (-42.9%), and oilseed rape (-25.4%).
Droughts in Europe and South America have reduced crop yields in key growing regions, especially Argentina, the largest soybean processor in the world.