Food inflation due to Russia-Ukraine war to last until 2024: CEO
Sunny Varghese, CEO of major food and agribusiness Olam Group, tells CNBC that it is difficult to predict how much more food prices will rise.
The Kremlin says the Odessa attacks hit military infrastructure
A Kremlin spokesman on Monday insisted that strikes in Odessa over the weekend targeted military infrastructure.
Repeating an earlier statement by the Defense Ministry, Dmitry Peskov told reporters that the strikes would not affect profitable exports from the region.
President of Ukraine Volodymyr Zelensky It called Saturday’s strikes an act of barbarism.
– Matt Clinch
Wheat prices rise after Odessa attack
A fire destroys a wheat field in Polohi District, Zaporizhia Region, southeastern Ukraine, as Russian troops shell the fields to prevent local farmers from harvesting grain crops.
Dmytro Smolyenko | Future release | Good pictures
Wheat futures for September delivery on the Chicago Board of Trade rose 3.6% on Monday morning as traders remained cautious on a grain export deal signed by Russia and Ukraine last week.
The two countries signed on Friday UN-backed deal to resume Ukrainian grain exports via Black Sea The deal is significant for global food supplies, but is the first major deal between the two sides since Moscow initiated it. Unprovoked attack On February 24.
But Ukraine said on Saturday that Russian missiles had hit the southern Ukrainian port of Odesa, casting doubt on that new deal.
Britain says Russia is struggling to repair combat vehicles
In one of its daily updates on Twitter, Britain’s Ministry of Defense said a Russian military vehicle overhaul and overhaul facility is located near Barvinok in Russia’s Belgorod Oblast, near the Ukrainian border.
It said at least 300 damaged vehicles were at the facility, including armored personnel carriers, trucks and tanks.
“In addition to well-documented personnel problems, Russia continues to struggle to extract and repair thousands of damaged combat vehicles in Ukraine,” it said in the update.
– Matt Clinch