Tuesday, April 23, 2024

Conflict in Ukraine fuels uncertainty for agriculture

Texas A&M University Texas A&M AgriLife photo Laura McKenzie Wheat is among the commodities that could be impacted by conflict between Ukraine and Russia in the near- and long-term.

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COLLEGE STATION, Texas — The Russian invasion has brought devastation to Ukraine, but uncertainty and volatility fueled by this conflict are rippling through U.S. and Texas agriculture markets.

Texas A&M AgriLife Extension Service economists said both Russia and Ukraine do not represent major destinations for U.S. commodities, ranking 56th and 80th, respectively. However, the conflict’s impact on global trade, trade alliances and infrastructure could ripple throughout U.S. sectors in the near- and long-term future.

Russia imported between $1.2 billion and $1.6 billion of U.S. agricultural products annually until imports fell to. . .

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