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Can Europe's Economy Handle Russian Sanctions? | Frances Coppola
Forward Guidance
The Long-Term Impact of War on Commodity Prices
Ukraine and Russia produce something like 30%, maybe a little bit shy of that, of the world's wheat supply. A lot of it is consumed within the country so you had a surge in the price of wheat even more dramatic than the surge of oil. When those are disrupted, the countries that suffer most are those that don't have a very diversified food supply. It doesn't tend to be countries like the US and UK and developed countries generally that suffer, particularly.
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