How Russia-Ukraine War Will Affect Global Bread Consumption- Okonjo-Iweala

The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala says the Russia-Ukraine war will be detrimental to ordinary people as it will affect the prices of bread among other things if nothing is done to halt it.

She said the war in Ukraine will hurt wheat consumers as the country is a major exporter of wheat.

Okonjo-Iweala on Wednesday, said the WTO was worried about the implications of the war.

She said, “At the WTO, we have watched this tragedy in Ukraine unfold with disbelief and the hope that it would have been peacefully resolved.

“However, this is now the 7th day, and we are deeply saddened by the continued suffering and loss of life. We pray that there will be a peaceful and quick resolution.

“We are also concerned about the trade implications of the conflict, especially trade in agriculture and food products and the rise in energy prices and their effects on the impacted population.”

“We are also concerned about the trade implications of the conflict, especially trade in agriculture and food products and the rise in energy prices and their effects on the impacted population,” she added.

Speaking at a virtual event with International Monetary Fund (IMF) Chief, Kristalina Georgieva, Okonjo-Iweala said the war will have a “big impact on wheat prices and prices of bread for ordinary people as well.”