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Though the SA agriculture and agribusiness industries have their fair share of domestic challenges, geopolitics is an increasingly important area worth monitoring. Specifically, we need to keep an eye on the rising tensions between Ukraine and Russia given the role of these two countries in the global agricultural market.

Russia produces about 10% of global wheat, while Ukraine accounts for 4%. Combined, this is nearly the size of the EU’s total wheat production. This wheat is not just for domestic consumption but for export markets. In 2020, Russia accounted for 18% of global wheat exports and Ukraine 8%. Together, this is just more than a quarter of global wheat exports from just two countries...

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