Ukraine bans export of wheat and other food staples as Russian-Ukraine war continues to rage

FOX Business Flash top headlines for March 9

Here are your FOX Business Flash top headlines for March 9.

The world's food prices are about to get higher.

In response to the ongoing Russian invasion, Ukraine has banned the export of various food items from its country. These items include wheat and oats, which is expected to have a significant impact on food supplies across Europe, Africa and Asia.

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Ukraine has banned the export of wheat, grain and other food items. (iStock)

Ukraine's minister of agrarian and food policy Roman Leshchenko explained that the decision was made as part of the country's efforts to keep its own civilians fed during the crisis, Reuters reports. As Russian forces slowly move across the country, normal supply lines are being cut off from various areas.

Ukraine is often referred to as the breadbasket of the world and the halt of its wheat and grain exports could threaten the food supply across Europe and other regions.

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Ukraine’s government is working to ensure that it can feed its own citizens while fighting off Russia’s invasion. (iStock)

The country has also banned the export of millet, buckwheat, sugar, cattle and other meats, including meat byproducts from cattle.

Fox Business previously reported that about a quarter of the world's wheat trade and a fifth of the world's corn comes from the region. Since Russia invaded Ukraine, both countries have had to close ports used for exporting goods. It's unknown when either side will be able to reopen these ports again.

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The cost of a variety of food and beverage items across Europe, Africa and Asia could increase, including beer. (iStock)

On Friday, World Trade Organization Director-General Ngozi Okonjo-Iweala explained that the situation will have a significant impact on the price of bread and other wheat products for regular people.

Some smaller beer brewers may also see an increase in the price of certain wheat and grains used in specialty brews.

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