Food price inflation from the Russo-Ukrainian war may continue into 2024: CEO
Sunny Verghese, CEO of major food and agricultural group Olam, told CNBC that it is difficult to predict how high food prices will go.
The Kremlin says the Odessa strikes hit the military infrastructure
A Kremlin spokesman insisted on Monday that strikes in Odessa over the weekend targeted military infrastructure.
In an earlier statement to the Defense Ministry, Dmitry Peskov told reporters that the strikes would not affect the gains in exports from the region.
Ukrainian President Volodymyr Zelensky Saturday’s strikes were described as barbaric.
– Matt Clinch
Wheat prices rise after the Odessa attack
A fire destroyed a wheat field while Russian forces bombarded the fields to prevent local farmers from harvesting grain crops, Polohy District, Zaporizhzhia Region, Southeast Ukraine.
Dmytro Smolenko | Publishing in the future | Getty Images
Chicago Board of Trade September wheat futures rose 3.6% on Monday morning as traders showed caution over the grain export deal that Russia and Ukraine signed last week.
The two countries signed on Friday UN-backed agreement to resume Ukrainian grain exports through the Black Sea. This deal is significant for the global food supply, but it is also the first major agreement between the two sides since it was launched by Moscow Unprovoked attack On February 24.
But Ukraine said on Saturday that Russian missiles had hit the southern port of Odessa, raising doubts about the new agreement.
UK says Russia likely struggles to repair combat vehicles
The British Ministry of Defense, which published one of its daily updates on Twitter, said it had located a site for the refurbishment and refurbishment of a Russian military vehicle near Parfenok, located in Russia’s Belgorod Oblast, near the Ukrainian border.
It added that at least 300 damaged vehicles were at the facility, including armored personnel trucks and tanks.
“In addition to well-documented personnel problems, Russia will likely continue to struggle to extract and repair thousands of combat vehicles damaged during the fighting in Ukraine,” she said in the update.
– Matt Clinch
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