As the war between Russia and Ukraine goes on, the Hungarian currency starts the new week where it left off last Friday: hitting new historic low against all major currencies.Continue reading
Hungary banned all grain exports effective immediately due to the price increases caused by the Russian war against Ukraine. Agriculture Minister István Nagy said the government was taking this measure in response to price increases triggered by the war.
This article was originally published on our sister-site, Ungarn Heute.
Ukraine is one of the world’s largest grain exporters, and Russia’s war against the country has pushed wheat prices to heights not seen in 14 years. As Index reports, rising grain prices could also change spring sowing plans. The situation for livestock producers could further worsen if Russian aggression leads to continued high global prices. According to a brief report on rtl.hu, the price of cooking oil will also rise due to the war in Ukraine, the world’s largest producer and exporter of sunflower oil.
The government decree requiring a permit to export grain from Hungary was already published on Friday.
Featured photo illustration by Tamás Sóki/MTI