Faced with the risk of a Russian attack in Ukraine, the markets, and more particularly that of cereals, are impacted. Wheat, corn, sunflower… In recent days, cereal prices have been subject to very high volatility, sometimes within the space of a few hours.
With regard to wheat, Russia supplies a large part of the importing countries of North Africa, including Morocco. However, Ukraine, which is a major exporting country and which supplies Morocco (3rd importing country of Ukrainian wheat), has just suspended its wheat exports.
As a reminder, Morocco is the 3rd African consumer of wheat with more than 10 million tons of the cereal per year. Its main wheat suppliers are France, Ukraine and Russia.
Legitimate fears of crisis-related disruptions to cereal supplies coincide with severe droughts in most North African countries, such as Morocco, which is expected to significantly increase cereal imports in 2022.
Other exporting countries such as France or the United States could take over from Ukraine and Russia if logistics flows stop.