Global wheat shortage amid Black Sea issues
Global wheat supplies are facing severe threats due to escalating attacks on Black Sea ports and facilities, which have disrupted shipments and led to the cancellation of many loading operations, especially as risks to Russian and Ukrainian ships and ports increase. Egypt, which relies on over 82% of its wheat imports from Russia and Ukraine during the first half of 2026, is among the hardest hit countries. Switching to alternative sources now incurs higher costs of up to $60 per ton, generally raising wheat prices. Additionally, the Chicago Board of Trade has seen futures prices rise by more than 17% since July, leading to higher costs for food production ingredients such as flour and bread. Importing countries like Indonesia, Algeria, and Tunisia are turning to alternative suppliers such as Australia and Romania. Meanwhile, rising threats to maritime operations threaten global wheat supplies and food prices.
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