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Ukraine Crisis

The impact of the Ukraine crisis on the global vegetable oil market

May 16th, 2022 • by JOSEPH GLAUBER, DAVID LABORDE AND ABDULLAH MAMUN

The war in Ukraine has pushed prices of agricultural products to historically high levels, and concerns about global food security occupy headlines and world leaders’ minds, as demonstrated by recent IMF and World Bank meetings. So far, much of the attention has focused on grains, particularly wheat—because of its importance in diets, and the predicament of countries where wheat accounts for a large share of calories consumed, is largely imported, and is dominated by supplies from the Black Sea.