KEY POINTS
• Russia is also the world’s top wheat exporter. Together with Ukraine, both account for roughly 29% of the global wheat export market.
• “China is also a big recipient of Ukrainian corn — in fact, Ukraine replaced the U.S. as China’s top corn supplier in 2021,” said Dawn Tiura, president at Sourcing Industry Group.
• Russia and Ukraine are also big suppliers of metals and other commodities, analysts said.
• While the European Union would be affected by the escalating crisis, Germany would be especially hit.
