More Than a Breadbasket, Ukraine is Key Iron Ore and Metals: A Trade Data Monitor Column

The prospect of a Russian war in Ukraine has rattled global markets. Russia is a top producer of commodities from grains to diamonds. The concern about Ukraine has mostly revolved around the country’s large agriculture sector. In 2021, the nation of 41.1 million was the world’s fourth biggest cereals exporter, behind only the U.S., Argentina, and India, according to Trade Data Monitor, the world’s premier source of trade statistics. Those exports were split almost 50-50 between corn ($5.9B, up 21%) and wheat and meslin ($5.1B, up 41%). With food prices already increasing 30% in 2021, and inflation biting sound the globe, there’s good reason to worry. But Ukraine’s export profile is more complicated than its status as the former breadbasket […]