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A number of factors have converged over the last 18 months to send global agricultural commodity prices to near-record levels. Russia’s invasion of Ukraine – and the potential loss of Ukrainian exports – was the latest development to push commodity prices higher.
Production of wheat in MY 2016/17 is forecast to decrease based on lower production area under this crop planted in Autumn 2015.
Sugar beet and sugar production in Ukraine is expected to decrease in marketing year 2015/16 in response to the current economic situation in the country.