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IMPACT OF THE COVID-19 PANDEMIC AND THE RUSSIAN-UKRAINIAN WAR ON THE EUROPEAN UNION'S WHEAT SUPPLY
Abstract
Objective: This study aims to analyze how the COVID-19 pandemic and the Russian-Ukrainian war have impacted the wheat supply in the European Union (EU), focusing on changes in wheat availability, consumption, and pricing.
Methods: The research employs a quantitative approach, utilizing secondary data from official European and international statistical databases. The study analyzes wheat stock levels, consumption rates, and price fluctuations within the EU during the specified periods of the pandemic and the conflict.
Results: Findings indicate a significant reduction in wheat stocks and consumption within the EU during the COVID-19 pandemic, with prices remaining stable globally. The Russian-Ukrainian war, while not drastically affecting wheat quantities within the EU, led to a sharp increase in global wheat prices, particularly in the initial months following the outbreak of the conflict.
Conclusion: Both the COVID-19 pandemic and the Russian-Ukrainian war have had detrimental impacts on the EU’s wheat supply, albeit in different respects. The pandemic affected internal supply dynamics, whereas the war influenced global pricing structures, underlining the vulnerability of global food supply chains to geopolitical events.
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DOI: http://dx.doi.org/10.21902/Revrima.v3i45.7500
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